ArQule, Inc. (NASDAQ:ARQL) saw a large growth in short interest in the month of September. As of September 28th, there was short interest totalling 11,076,976 shares, a growth of 74.4% from the September 14th total of 6,351,151 shares. Currently, 11.3% of the company’s shares are short sold. Based on an average daily trading volume, of 1,746,104 shares, the short-interest ratio is presently 6.3 days.

A number of institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its position in ArQule by 156.6% in the 2nd quarter. BlackRock Inc. now owns 5,389,833 shares of the biotechnology company’s stock valued at $29,806,000 after acquiring an additional 3,289,226 shares during the last quarter. Millennium Management LLC grew its position in ArQule by 141.8% in the 2nd quarter. Millennium Management LLC now owns 4,175,644 shares of the biotechnology company’s stock valued at $23,091,000 after acquiring an additional 2,448,660 shares during the last quarter. Renaissance Technologies LLC grew its position in ArQule by 14.6% in the 2nd quarter. Renaissance Technologies LLC now owns 2,860,683 shares of the biotechnology company’s stock valued at $15,820,000 after acquiring an additional 363,510 shares during the last quarter. Menora Mivtachim Holdings LTD. bought a new position in ArQule in the 2nd quarter valued at $11,943,000. Finally, Northern Trust Corp grew its position in ArQule by 538.3% in the 2nd quarter. Northern Trust Corp now owns 951,591 shares of the biotechnology company’s stock valued at $5,262,000 after acquiring an additional 802,504 shares during the last quarter. 65.09% of the stock is currently owned by institutional investors.

NASDAQ:ARQL opened at $4.42 on Friday. ArQule has a fifty-two week low of $0.97 and a fifty-two week high of $7.21. The firm has a market cap of $615.90 million, a P/E ratio of -11.36 and a beta of 1.15. The company has a debt-to-equity ratio of 0.54, a quick ratio of 5.99 and a current ratio of 5.99.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings data on Wednesday, August 1st. The biotechnology company reported $0.05 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.03 by $0.02. The business had revenue of $13.71 million during the quarter, compared to the consensus estimate of $7.70 million. During the same period last year, the company earned ($0.12) EPS. Sell-side analysts forecast that ArQule will post -0.12 EPS for the current year.

ARQL has been the topic of several recent research reports. ValuEngine lowered ArQule from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 16th. Needham & Company LLC increased their price target on ArQule from $6.00 to $7.00 and gave the company a “buy” rating in a report on Monday, June 18th. Zacks Investment Research lowered ArQule from a “hold” rating to a “sell” rating in a report on Tuesday, June 19th. B. Riley increased their price target on ArQule from $4.00 to $7.50 and gave the company a “buy” rating in a report on Friday, June 29th. Finally, BidaskClub lowered ArQule from a “strong-buy” rating to a “buy” rating in a report on Thursday, July 12th. Two equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $6.65.

ArQule Company Profile

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. It offers Derazantinib (ARQ 087), a multi-kinase inhibitor of the fibroblast growth factor receptor (FGFR) family that is in a registration trial in intrahepatic cholangiocarcinoma with FGFR2 fusions.

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