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

Arcus Biosciences, Inc. (NYSE:RCUS - Get Free Report) was the recipient of a large drop in short interest in the month of 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. Based on an average daily trading volume, of 693,700 shares, the short-interest ratio is presently 9.2 days. Currently, 13.1% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on RCUS shares. Barclays increased their target price on Arcus Biosciences from $25.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, October 25th. Morgan Stanley reduced their target price on Arcus Biosciences from $36.00 to $25.00 and set an "overweight" rating on the stock in a report on Tuesday. Wedbush reissued an "outperform" rating and set a $36.00 target price on shares of Arcus Biosciences in a report on Thursday, November 7th. Finally, HC Wainwright reduced their target price on Arcus Biosciences from $20.00 to $18.00 and set a "neutral" rating on the stock in a report on Tuesday. One equities research analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $31.29.

Insiders Place Their Bets

In other news, CFO Robert C. Goeltz II sold 3,594 shares of the stock in a transaction on Tuesday, December 31st. The stock was sold at an average price of $15.00, for a total transaction of $53,910.00. Following the sale, the chief financial officer now directly owns 60,138 shares of the company's stock, valued at approximately $902,070. This represents a 5.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 12.30% of the company's stock.

Institutional Trading of Arcus Biosciences

Several large investors have recently bought and sold shares of RCUS. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Arcus Biosciences by 2.5% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 34,007 shares of the company's stock valued at $506,000 after purchasing an additional 833 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of Arcus Biosciences by 2.8% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,781 shares of the company's stock valued at $471,000 after purchasing an additional 843 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Arcus Biosciences by 2.6% during the third quarter. JPMorgan Chase & Co. now owns 43,685 shares of the company's stock valued at $668,000 after purchasing an additional 1,117 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Arcus Biosciences during the fourth quarter valued at about $26,000. Finally, The Manufacturers Life Insurance Company boosted its stake in shares of Arcus Biosciences by 7.7% during the second quarter. The Manufacturers Life Insurance Company now owns 29,858 shares of the company's stock valued at $455,000 after purchasing an additional 2,123 shares in the last quarter. 92.89% of the stock is owned by institutional investors and hedge funds.

Arcus Biosciences Price Performance

NYSE:RCUS traded down $2.11 during trading hours on Tuesday, hitting $11.00. The company's stock had a trading volume of 4,655,000 shares, compared to its average volume of 739,628. The stock has a fifty day simple moving average of $14.28 and a 200-day simple moving average of $15.63. The company has a market capitalization of $1.01 billion, a P/E ratio of -3.49 and a beta of 0.84. The company has a debt-to-equity ratio of 0.08, a current ratio of 5.24 and a quick ratio of 5.24. Arcus Biosciences has a twelve month low of $10.65 and a twelve month high of $20.31.

About Arcus Biosciences

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.