Handelsinvest Investeringsforvaltning Raises Stock Holdings in ArQule, Inc. (NASDAQ:ARQL)

Handelsinvest Investeringsforvaltning boosted its stake in ArQule, Inc. (NASDAQ:ARQL) by 50.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 120,000 shares of the biotechnology company’s stock after buying an additional 40,000 shares during the period. Handelsinvest Investeringsforvaltning owned approximately 0.10% of ArQule worth $860,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Artal Group S.A. purchased a new stake in ArQule during the second quarter worth about $7,707,000. Allianz Asset Management GmbH increased its stake in ArQule by 1,566.4% during the second quarter. Allianz Asset Management GmbH now owns 264,915 shares of the biotechnology company’s stock worth $2,917,000 after purchasing an additional 249,018 shares during the period. Altshuler Shaham Ltd increased its stake in ArQule by 188.7% during the second quarter. Altshuler Shaham Ltd now owns 367,867 shares of the biotechnology company’s stock worth $4,051,000 after purchasing an additional 240,467 shares during the period. Atika Capital Management LLC purchased a new stake in ArQule during the second quarter worth about $3,490,000. Finally, Fosun International Ltd increased its stake in ArQule by 60.4% during the second quarter. Fosun International Ltd now owns 221,297 shares of the biotechnology company’s stock worth $2,397,000 after purchasing an additional 83,297 shares during the period. Hedge funds and other institutional investors own 85.25% of the company’s stock.

Shares of ArQule stock traded up $0.04 on Tuesday, reaching $9.57. 56,399 shares of the company were exchanged, compared to its average volume of 2,252,721. ArQule, Inc. has a 1-year low of $2.23 and a 1-year high of $12.22. The company has a market cap of $1.10 billion, a P/E ratio of -60.06 and a beta of 2.24. The company has a debt-to-equity ratio of 0.07, a current ratio of 12.54 and a quick ratio of 12.54. The stock’s 50 day moving average price is $8.34 and its 200-day moving average price is $8.31.

ArQule (NASDAQ:ARQL) last announced its quarterly earnings data on Wednesday, August 7th. The biotechnology company reported ($0.08) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.09) by $0.01. ArQule had a negative return on equity of 33.45% and a negative net margin of 349.34%. The business had revenue of $0.28 million during the quarter, compared to the consensus estimate of $1.43 million. During the same period in the previous year, the company posted $0.05 earnings per share. On average, research analysts predict that ArQule, Inc. will post -0.36 earnings per share for the current fiscal year.

ARQL has been the topic of a number of recent research reports. Cantor Fitzgerald initiated coverage on shares of ArQule in a research note on Thursday, October 17th. They set an “overweight” rating and a $16.00 price target on the stock. ValuEngine lowered shares of ArQule from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Oppenheimer set a $13.00 price target on shares of ArQule and gave the stock a “buy” rating in a research note on Thursday, July 11th. HC Wainwright started coverage on ArQule in a research report on Monday, September 16th. They set a “buy” rating and a $13.00 price objective for the company. Finally, Royal Bank of Canada set a $12.00 price objective on ArQule and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $12.44.

About ArQule

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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