Arcus Biosciences Inc (RCUS) Sees Large Drop in Short Interest

Arcus Biosciences Inc (NYSE:RCUS) was the recipient of a significant decrease in short interest during the month of October. As of October 15th, there was short interest totalling 1,639,826 shares, a decrease of 33.2% from the September 28th total of 2,454,722 shares. Approximately 6.9% of the shares of the stock are sold short. Based on an average trading volume of 70,695 shares, the days-to-cover ratio is presently 23.2 days.

In other Arcus Biosciences news, CEO Terry J. Rosen acquired 18,607 shares of the company’s stock in a transaction that occurred on Tuesday, August 28th. The stock was acquired at an average price of $15.07 per share, for a total transaction of $280,407.49. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Terry J. Rosen acquired 9,289 shares of the company’s stock in a transaction that occurred on Friday, August 24th. The stock was acquired at an average price of $13.45 per share, with a total value of $124,937.05. The disclosure for this purchase can be found here. Insiders bought 85,117 shares of company stock valued at $1,118,707 in the last three months.

A number of large investors have recently added to or reduced their stakes in the business. Hillhouse Capital Management Ltd. increased its position in Arcus Biosciences by 80.5% during the 2nd quarter. Hillhouse Capital Management Ltd. now owns 767,128 shares of the company’s stock valued at $9,390,000 after purchasing an additional 342,128 shares during the period. BlackRock Inc. increased its position in Arcus Biosciences by 1,606.3% during the 2nd quarter. BlackRock Inc. now owns 335,270 shares of the company’s stock valued at $4,104,000 after purchasing an additional 315,621 shares during the period. Millennium Management LLC acquired a new stake in Arcus Biosciences during the 1st quarter valued at approximately $3,180,000. Vident Investment Advisory LLC acquired a new stake in Arcus Biosciences during the 2nd quarter valued at approximately $1,911,000. Finally, Baker BROS. Advisors LP acquired a new stake in Arcus Biosciences during the 2nd quarter valued at approximately $1,488,000. 39.01% of the stock is owned by institutional investors and hedge funds.



Shares of NYSE RCUS opened at $10.05 on Thursday. Arcus Biosciences has a 1 year low of $9.50 and a 1 year high of $22.10.

Arcus Biosciences (NYSE:RCUS) last released its earnings results on Monday, August 6th. The company reported ($0.32) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.08. The firm had revenue of $1.25 million for the quarter, compared to analyst estimates of $1.30 million. On average, equities analysts expect that Arcus Biosciences will post -2.17 EPS for the current fiscal year.

A number of research analysts recently issued reports on RCUS shares. Wedbush started coverage on shares of Arcus Biosciences in a report on Tuesday, October 9th. They issued an “outperform” rating and a $22.00 price objective for the company. Zacks Investment Research lowered shares of Arcus Biosciences from a “buy” rating to a “hold” rating in a report on Wednesday, September 19th. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Arcus Biosciences has an average rating of “Buy” and a consensus price target of $18.60.

About Arcus Biosciences

Arcus Biosciences, Inc, a clinical-stage biopharmaceutical company, engages in developing and commercializing cancer immunotherapies in the United States. It is developing various products for treating solid tumors, including AB928, an adenosine receptor antagonist that is in Phase I clinical trial; AB680, a CD73 inhibitor; AB122, an anti-PD-1 antibody that is Phase I clinical trial; and AB154, an anti-TIGIT antibody.

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