Tibra Equities Europe Ltd Makes New Investment in ArQule, Inc. (NASDAQ:ARQL)

Tibra Equities Europe Ltd acquired a new position in shares of ArQule, Inc. (NASDAQ:ARQL) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 34,700 shares of the biotechnology company’s stock, valued at approximately $249,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in ArQule by 5.7% during the second quarter. BlackRock Inc. now owns 8,978,971 shares of the biotechnology company’s stock worth $98,856,000 after buying an additional 480,873 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of ArQule by 5.9% in the 2nd quarter. Vanguard Group Inc. now owns 5,635,858 shares of the biotechnology company’s stock valued at $62,051,000 after purchasing an additional 314,378 shares during the last quarter. Eagle Asset Management Inc. acquired a new position in shares of ArQule in the 2nd quarter valued at $30,597,000. Candriam Luxembourg S.C.A. lifted its stake in shares of ArQule by 96.5% in the 2nd quarter. Candriam Luxembourg S.C.A. now owns 2,755,237 shares of the biotechnology company’s stock valued at $30,202,000 after purchasing an additional 1,353,056 shares during the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in shares of ArQule in the 2nd quarter valued at $29,876,000. 85.31% of the stock is currently owned by institutional investors.

Several equities analysts have recently commented on the company. Wolfe Research assumed coverage on ArQule in a research note on Tuesday. They issued an “outperform” rating and a $17.00 price target on the stock. ValuEngine raised ArQule from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Royal Bank of Canada set a $12.00 price target on ArQule and gave the company a “buy” rating in a research note on Wednesday, October 9th. BidaskClub raised ArQule from a “hold” rating to a “buy” rating in a research note on Saturday, October 19th. Finally, Zacks Investment Research lowered ArQule from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. One equities research analyst has rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $13.11.

Shares of ARQL stock traded up $0.06 on Friday, hitting $7.66. The stock had a trading volume of 2,803,500 shares, compared to its average volume of 2,134,255. ArQule, Inc. has a 1 year low of $2.23 and a 1 year high of $12.22. The firm has a market capitalization of $1.17 billion, a P/E ratio of -47.88 and a beta of 2.31. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.27 and a quick ratio of 8.27. The company’s 50 day moving average price is $8.64 and its 200-day moving average price is $8.65.

ArQule (NASDAQ:ARQL) last released its quarterly earnings data on Wednesday, October 30th. The biotechnology company reported ($0.09) EPS for the quarter, missing analysts’ consensus estimates of ($0.08) by ($0.01). ArQule had a negative net margin of 805.61% and a negative return on equity of 33.10%. The business had revenue of $0.21 million during the quarter, compared to analysts’ expectations of $1.20 million. During the same quarter in the previous year, the company posted ($0.05) EPS. On average, equities analysts forecast that ArQule, Inc. will post -0.37 EPS for the current year.

ArQule Company Profile

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. The company's pipeline includes ARQ 531, an orally bioavailable, potent and reversible dual inhibitor of wild type and C481S-mutant Bruton's tyrosine kinase that is in Phase I trial for patients with B-cell malignancies refractory to other therapeutic options; and miransertib (ARQ 092), a potent and selective inhibitor of the protein kinase B (AKT), a serine/threonine kinase, which is in Phase Ib in combination with the hormonal therapy and anastrozole in patients with advanced endometrial cancer.

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Institutional Ownership by Quarter for ArQule (NASDAQ:ARQL)

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