Arcus Biosciences Inc (NYSE:RCUS) saw a significant increase in short interest in the month of May. As of May 31st, there was short interest totalling 1,725,700 shares, an increase of 46.0% from the April 30th total of 1,181,600 shares. Based on an average daily volume of 110,400 shares, the short-interest ratio is presently 15.6 days. Approximately 6.7% of the shares of the company are sold short.
RCUS traded up $0.82 during trading on Monday, hitting $9.10. The company’s stock had a trading volume of 5,217 shares, compared to its average volume of 155,736. Arcus Biosciences has a one year low of $7.40 and a one year high of $17.18. The stock has a market cap of $368.75 million, a price-to-earnings ratio of -6.43 and a beta of 1.21. The stock has a 50 day moving average price of $9.43.
Arcus Biosciences (NYSE:RCUS) last released its quarterly earnings results on Thursday, May 2nd. The company reported ($0.41) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.34) by ($0.07). Arcus Biosciences had a negative return on equity of 22.72% and a negative net margin of 613.46%. The business had revenue of $1.75 million during the quarter, compared to the consensus estimate of $1.25 million. As a group, analysts forecast that Arcus Biosciences will post -1.64 earnings per share for the current year.
In related news, President Juan C. Jaen acquired 10,000 shares of the stock in a transaction that occurred on Monday, June 3rd. The shares were bought at an average price of $8.25 per share, for a total transaction of $82,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Terry J. Rosen acquired 41,540 shares of the stock in a transaction that occurred on Tuesday, June 4th. The shares were bought at an average price of $7.91 per share, for a total transaction of $328,581.40. The disclosure for this purchase can be found here. In the last 90 days, insiders have purchased 125,343 shares of company stock worth $1,006,228. 19.23% of the stock is owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in RCUS. Svennilson Peter purchased a new stake in shares of Arcus Biosciences in the fourth quarter worth $38,135,000. Northern Trust Corp increased its stake in shares of Arcus Biosciences by 191.6% in the fourth quarter. Northern Trust Corp now owns 303,109 shares of the company’s stock worth $3,265,000 after purchasing an additional 199,175 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Arcus Biosciences by 32.0% in the third quarter. Bank of New York Mellon Corp now owns 21,185 shares of the company’s stock worth $295,000 after purchasing an additional 5,138 shares in the last quarter. Aisling Capital Management LP purchased a new stake in shares of Arcus Biosciences in the fourth quarter worth $5,778,000. Finally, Vanguard Group Inc. increased its stake in shares of Arcus Biosciences by 2.8% in the third quarter. Vanguard Group Inc. now owns 452,409 shares of the company’s stock worth $6,307,000 after purchasing an additional 12,511 shares in the last quarter. Institutional investors and hedge funds own 46.58% of the company’s stock.
A number of research analysts recently weighed in on the stock. Citigroup restated a “buy” rating and set a $25.00 price objective on shares of Arcus Biosciences in a research report on Friday, May 24th. Zacks Investment Research downgraded shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a research report on Friday, May 10th. Svb Leerink reiterated an “outperform” rating on shares of Arcus Biosciences in a research report on Friday, May 3rd. Finally, BTIG Research assumed coverage on shares of Arcus Biosciences in a research report on Monday, March 18th. They issued a “buy” rating and a $20.00 price target on the stock. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Arcus Biosciences currently has a consensus rating of “Buy” and a consensus price target of $17.50.
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About Arcus Biosciences
Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. The company develops various programs targeting immuno-oncology pathways, including AB928, a dual adenosine receptor antagonist, which is in a Phase I/Ib clinical trial; and AB122, an anti-PD-1 antibody that is in Phase I clinical trial.
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