Arcus Biosciences Inc (NYSE:RCUS) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totalling 1,660,000 shares, a growth of 7.8% from the August 15th total of 1,540,000 shares. Currently, 6.0% of the company’s shares are sold short. Based on an average daily volume of 190,600 shares, the short-interest ratio is presently 8.7 days.
Shares of RCUS traded down $1.49 during trading on Monday, reaching $8.69. 14,555 shares of the company traded hands, compared to its average volume of 241,401. Arcus Biosciences has a twelve month low of $6.30 and a twelve month high of $14.79. The stock has a market cap of $403.93 million, a PE ratio of -6.11 and a beta of 0.98. The stock has a 50-day simple moving average of $7.91 and a 200-day simple moving average of $9.31.
Arcus Biosciences (NYSE:RCUS) last announced its quarterly earnings results on Tuesday, August 6th. The company reported ($0.64) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.24). Arcus Biosciences had a negative net margin of 736.31% and a negative return on equity of 30.67%. The company had revenue of $1.75 million for the quarter, compared to analyst estimates of $4.54 million. Sell-side analysts predict that Arcus Biosciences will post -2.01 EPS for the current fiscal year.
Several institutional investors and hedge funds have recently made changes to their positions in RCUS. GSA Capital Partners LLP grew its holdings in shares of Arcus Biosciences by 17.3% in the second quarter. GSA Capital Partners LLP now owns 16,243 shares of the company’s stock valued at $129,000 after purchasing an additional 2,392 shares in the last quarter. Aperio Group LLC acquired a new position in shares of Arcus Biosciences in the second quarter valued at approximately $32,000. BNP Paribas Arbitrage SA grew its holdings in shares of Arcus Biosciences by 1,931.5% in the first quarter. BNP Paribas Arbitrage SA now owns 6,521 shares of the company’s stock valued at $81,000 after purchasing an additional 6,200 shares in the last quarter. SG Americas Securities LLC acquired a new position in shares of Arcus Biosciences in the first quarter valued at approximately $110,000. Finally, Bank of New York Mellon Corp grew its holdings in shares of Arcus Biosciences by 9.3% in the second quarter. Bank of New York Mellon Corp now owns 116,983 shares of the company’s stock valued at $930,000 after purchasing an additional 9,980 shares in the last quarter. Institutional investors and hedge funds own 46.66% of the company’s stock.
A number of equities analysts have commented on RCUS shares. ValuEngine raised shares of Arcus Biosciences from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Mizuho assumed coverage on shares of Arcus Biosciences in a research report on Thursday. They set a “buy” rating and a $22.00 price target for the company. Zacks Investment Research cut shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a research report on Thursday, August 8th. Finally, Citigroup dropped their price target on shares of Arcus Biosciences from $25.00 to $15.00 and set an “in-line” rating for the company in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $17.65.
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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