EAM Investors LLC cut its stake in shares of ArQule, Inc. (NASDAQ:ARQL) by 30.9% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 252,602 shares of the biotechnology company’s stock after selling 112,887 shares during the period. EAM Investors LLC owned about 0.23% of ArQule worth $1,430,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in ARQL. BlackRock Inc. grew its position in ArQule by 156.6% during the second quarter. BlackRock Inc. now owns 5,389,833 shares of the biotechnology company’s stock valued at $29,806,000 after purchasing an additional 3,289,226 shares in the last quarter. Millennium Management LLC grew its position in ArQule by 141.8% during the second quarter. Millennium Management LLC now owns 4,175,644 shares of the biotechnology company’s stock valued at $23,091,000 after purchasing an additional 2,448,660 shares in the last quarter. Menora Mivtachim Holdings LTD. purchased a new position in ArQule during the second quarter valued at approximately $11,943,000. Northern Trust Corp grew its position in ArQule by 538.3% during the second quarter. Northern Trust Corp now owns 951,591 shares of the biotechnology company’s stock valued at $5,262,000 after purchasing an additional 802,504 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. grew its position in ArQule by 104.0% during the third quarter. Candriam Luxembourg S.C.A. now owns 1,152,727 shares of the biotechnology company’s stock valued at $6,524,000 after purchasing an additional 587,727 shares in the last quarter. 69.45% of the stock is currently owned by hedge funds and other institutional investors.

ARQL stock opened at $3.54 on Wednesday. The company has a current ratio of 9.60, a quick ratio of 9.60 and a debt-to-equity ratio of 0.16. ArQule, Inc. has a 12 month low of $1.27 and a 12 month high of $7.21.

ArQule (NASDAQ:ARQL) last posted its earnings results on Wednesday, October 31st. The biotechnology company reported ($0.05) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.06) by $0.01. The business had revenue of $4.98 million during the quarter, compared to the consensus estimate of $2.44 million. During the same period in the prior year, the firm earned ($0.09) earnings per share. Analysts anticipate that ArQule, Inc. will post -0.16 EPS for the current fiscal year.

A number of brokerages recently commented on ARQL. BidaskClub downgraded shares of ArQule from a “hold” rating to a “sell” rating in a research report on Wednesday, November 7th. B. Riley set a $7.00 target price on shares of ArQule and gave the stock a “buy” rating in a research report on Friday, November 2nd. Roth Capital set a $7.00 target price on shares of ArQule and gave the stock a “buy” rating in a research report on Thursday, November 1st. Zacks Investment Research downgraded shares of ArQule from a “buy” rating to a “hold” rating in a research report on Tuesday, October 9th. Finally, ValuEngine downgraded shares of ArQule from a “strong-buy” rating to a “buy” rating in a research report on Thursday, October 4th. One research analyst has rated the stock with a sell rating, one has given a hold rating and six have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $6.85.

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ArQule 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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Institutional Ownership by Quarter for ArQule (NASDAQ:ARQL)

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