Arcus Biosciences, Inc. (NYSE:RCUS) Short Interest Down 22.7% in January

Arcus Biosciences, Inc. (NYSE:RCUS) was the recipient of a large drop in short interest in January. As of January 31st, there was short interest totalling 6,380,000 shares, a drop of 22.7% from the January 15th total of 8,250,000 shares. Currently, 13.1% of the company’s shares are short sold. Based on an average daily volume of 693,700 shares, the days-to-cover ratio is currently 9.2 days.

Wall Street Analysts Forecast Growth

Several brokerages have commented on RCUS. Wedbush reiterated an “outperform” rating and set a $36.00 price target on shares of Arcus Biosciences in a report on Thursday, November 7th. Barclays lifted their target price on shares of Arcus Biosciences from $25.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, October 25th. Finally, HC Wainwright restated a “neutral” rating and set a $20.00 price target on shares of Arcus Biosciences in a report on Wednesday, November 6th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Arcus Biosciences currently has a consensus rating of “Buy” and an average price target of $32.67.

Arcus Biosciences Trading Up 2.8 %

NYSE RCUS traded up $0.35 during trading on Friday, reaching $13.05. 390,633 shares of the company traded hands, compared to its average volume of 638,745. The company has a quick ratio of 5.24, a current ratio of 5.24 and a debt-to-equity ratio of 0.08. The stock’s 50 day moving average price is $14.50 and its two-hundred day moving average price is $15.68. Arcus Biosciences has a 1-year low of $11.55 and a 1-year high of $20.31.

Insider Buying and Selling

In other Arcus Biosciences news, CFO Robert C. Goeltz II sold 3,594 shares of the firm’s stock in a transaction dated Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the completion of the sale, the chief financial officer now directly owns 60,138 shares in the company, valued at approximately $902,070. This trade represents a 5.64 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 12.30% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Arcus Biosciences

A number of institutional investors have recently added to or reduced their stakes in RCUS. Boxer Capital Management LLC acquired a new position in shares of Arcus Biosciences in the 4th quarter worth approximately $23,857,000. PDT Partners LLC boosted its holdings in shares of Arcus Biosciences by 43.5% in the 4th quarter. PDT Partners LLC now owns 125,752 shares of the company’s stock worth $1,872,000 after acquiring an additional 38,116 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of Arcus Biosciences by 4.3% in the 4th quarter. Northern Trust Corp now owns 532,099 shares of the company’s stock worth $7,923,000 after acquiring an additional 22,181 shares in the last quarter. Voya Investment Management LLC boosted its holdings in shares of Arcus Biosciences by 37.5% in the 4th quarter. Voya Investment Management LLC now owns 24,674 shares of the company’s stock worth $367,000 after acquiring an additional 6,733 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. acquired a new position in shares of Arcus Biosciences in the 4th quarter worth approximately $6,596,000. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Company Profile

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, develops and commercializes cancer therapies in the United States. The company's pipeline products include Domvanalimab, an anti-TIGIT antibody, which is in Phase 2 and Phase 3 clinical trial; and AB308, an investigational anti-TIGIT monoclonal antibody, which is in Phase 1b clinical trial to study people with advanced solid and hematologic malignancies.