Arcus Biosciences Inc (NYSE:RCUS) saw a significant decline in short interest in October. As of October 15th, there was short interest totalling 1,639,826 shares, a decline of 33.2% from the September 28th total of 2,454,722 shares. Based on an average daily volume of 70,695 shares, the days-to-cover ratio is currently 23.2 days. Currently, 6.9% of the shares of the stock are sold short.
In other news, CEO Terry J. Rosen bought 18,607 shares of the company’s stock in a transaction dated Tuesday, August 28th. The stock was bought at an average price of $15.07 per share, for a total transaction of $280,407.49. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Juan C. Jaen bought 10,000 shares of the company’s stock in a transaction dated Monday, August 13th. The shares were purchased at an average price of $11.88 per share, with a total value of $118,800.00. The disclosure for this purchase can be found here. In the last three months, insiders acquired 85,117 shares of company stock worth $1,118,707.
Hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC bought a new stake in shares of Arcus Biosciences during the first quarter worth $137,000. Wells Fargo & Company MN bought a new stake in Arcus Biosciences in the first quarter valued at about $155,000. California Public Employees Retirement System bought a new stake in Arcus Biosciences in the second quarter valued at about $135,000. Hilltop Holdings Inc. bought a new stake in Arcus Biosciences in the second quarter valued at about $136,000. Finally, Bank of New York Mellon Corp bought a new stake in Arcus Biosciences in the second quarter valued at about $196,000. Institutional investors own 39.01% of the company’s stock.
RCUS stock opened at $10.81 on Friday. Arcus Biosciences has a twelve month low of $9.50 and a twelve month 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, topping analysts’ consensus estimates of ($0.40) by $0.08. The firm had revenue of $1.25 million for the quarter, compared to the consensus estimate of $1.30 million. Equities analysts anticipate that Arcus Biosciences will post -2.17 earnings per share for the current fiscal year.
A number of research firms have recently weighed in on RCUS. Wedbush began coverage on Arcus Biosciences in a research report on Tuesday, October 9th. They set an “outperform” rating and a $22.00 target price for the company. Zacks Investment Research downgraded Arcus Biosciences from a “buy” rating to a “hold” rating in a research report on Wednesday, September 19th. Two research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average 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.
See Also: Fundamental Analysis – How It Helps Investors
Receive News & Ratings for Arcus Biosciences Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Arcus Biosciences and related companies with MarketBeat.com's FREE daily email newsletter.