ArQule, Inc. (NASDAQ:ARQL) Shares Purchased by Vanguard Group Inc.

Vanguard Group Inc. increased its stake in shares of ArQule, Inc. (NASDAQ:ARQL) by 5.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,635,858 shares of the biotechnology company’s stock after purchasing an additional 314,378 shares during the period. Vanguard Group Inc. owned 4.69% of ArQule worth $62,051,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lindbrook Capital LLC raised its position in shares of ArQule by 50.0% during the 2nd quarter. Lindbrook Capital LLC now owns 3,000 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 1,000 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of ArQule by 272.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,124 shares of the biotechnology company’s stock worth $78,000 after purchasing an additional 5,213 shares during the last quarter. Bank of Montreal Can raised its position in shares of ArQule by 53,511.8% during the 2nd quarter. Bank of Montreal Can now owns 9,114 shares of the biotechnology company’s stock worth $100,000 after purchasing an additional 9,097 shares during the last quarter. Metropolitan Life Insurance Co NY grew its stake in ArQule by 4.7% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 32,403 shares of the biotechnology company’s stock worth $155,000 after acquiring an additional 1,459 shares during the period. Finally, LPL Financial LLC grew its stake in ArQule by 51.3% in the 2nd quarter. LPL Financial LLC now owns 17,064 shares of the biotechnology company’s stock worth $188,000 after acquiring an additional 5,784 shares during the period. Hedge funds and other institutional investors own 85.27% of the company’s stock.

Several research firms have commented on ARQL. Zacks Investment Research cut shares of ArQule from a “buy” rating to a “hold” rating in a research note on Monday, July 29th. Oppenheimer set a $13.00 target price on shares of ArQule and gave the stock a “buy” rating in a research note on Thursday, July 11th. Leerink Swann set a $12.00 target price on shares of ArQule and gave the stock a “buy” rating in a research note on Saturday, June 15th. Roth Capital lifted their target price on shares of ArQule from $10.00 to $13.00 and gave the stock a “buy” rating in a research note on Friday, June 14th. Finally, ValuEngine cut shares of ArQule from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $12.29.

ARQL stock opened at $8.58 on Friday. The stock has a market capitalization of $987.34 million, a P/E ratio of -53.63 and a beta of 2.24. The company has a debt-to-equity ratio of 0.07, a quick ratio of 12.54 and a current ratio of 12.54. ArQule, Inc. has a one year low of $2.23 and a one year high of $12.22. The company has a 50 day moving average price of $8.37 and a two-hundred day moving average price of $8.11.

ArQule (NASDAQ:ARQL) last released its earnings results on Wednesday, August 7th. The biotechnology company reported ($0.08) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.09) by $0.01. The firm had revenue of $0.28 million during the quarter, compared to analysts’ expectations of $1.43 million. ArQule had a negative net margin of 349.34% and a negative return on equity of 33.45%. During the same period in the previous year, the company earned $0.05 EPS. Research analysts forecast that ArQule, Inc. will post -0.36 earnings per share for the current fiscal year.

ArQule 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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