Alps Advisors Inc. raised its holdings in shares of ArQule, Inc. (NASDAQ:ARQL) by 30.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 251,890 shares of the biotechnology company’s stock after purchasing an additional 59,326 shares during the quarter. Alps Advisors Inc. owned 0.23% of ArQule worth $698,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased 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 acquiring an additional 3,289,226 shares during the last quarter. Voya Investment Management LLC bought a new position in shares of ArQule in the second quarter worth about $184,000. Northern Trust Corp grew its holdings in shares of ArQule by 538.3% in the second quarter. Northern Trust Corp now owns 951,591 shares of the biotechnology company’s stock worth $5,262,000 after purchasing an additional 802,504 shares during the last quarter. Handelsbanken Fonder AB grew its holdings in shares of ArQule by 42.9% in the third quarter. Handelsbanken Fonder AB now owns 1,000,000 shares of the biotechnology company’s stock worth $5,660,000 after purchasing an additional 300,000 shares during the last quarter. Finally, Acadian Asset Management LLC grew its holdings in shares of ArQule by 210.1% in the third quarter. Acadian Asset Management LLC now owns 333,354 shares of the biotechnology company’s stock worth $1,887,000 after purchasing an additional 225,847 shares during the last quarter. Institutional investors own 78.37% of the company’s stock.
NASDAQ ARQL opened at $3.32 on Thursday. The company has a current ratio of 9.60, a quick ratio of 9.60 and a debt-to-equity ratio of 0.16. The stock has a market capitalization of $369.49 million, a PE ratio of -8.61 and a beta of 2.14. ArQule, Inc. has a 12 month low of $1.56 and a 12 month high of $7.21.
A number of research analysts have recently commented on ARQL shares. Zacks Investment Research upgraded shares of ArQule from a “hold” rating to a “buy” rating and set a $4.25 price target on the stock in a report on Thursday, January 24th. BidaskClub upgraded shares of ArQule from a “sell” rating to a “hold” rating in a report on Saturday, December 1st. ValuEngine cut shares of ArQule from a “buy” rating to a “hold” rating in a report on Friday, January 4th. Roth Capital set a $7.00 price target on shares of ArQule and gave the stock a “buy” rating in a report on Sunday, December 2nd. Finally, B. Riley set a $7.00 price target on shares of ArQule and gave the stock a “buy” rating in a report on Friday, November 2nd. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $6.40.
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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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