Vanguard Group Inc. reduced its position in ArQule, Inc. (NASDAQ:ARQL) by 14.5% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 2,584,545 shares of the biotechnology company’s stock after selling 437,073 shares during the quarter. Vanguard Group Inc. owned approximately 3.63% of ArQule worth $3,204,000 at the end of the most recent quarter.
Separately, Northern Trust Corp raised its holdings in shares of ArQule by 0.9% in the second quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock valued at $192,000 after buying an additional 1,385 shares during the last quarter. 52.12% of the stock is currently owned by institutional investors.
ArQule, Inc. (ARQL) opened at $1.30 on Thursday. ArQule, Inc. has a 1-year low of $0.92 and a 1-year high of $1.68. The company has a debt-to-equity ratio of 2.33, a quick ratio of 3.45 and a current ratio of 3.45.
ArQule (NASDAQ:ARQL) last released its quarterly earnings data on Thursday, November 9th. The biotechnology company reported ($0.09) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.11) by $0.02. During the same period in the prior year, the firm posted ($0.08) EPS. sell-side analysts anticipate that ArQule, Inc. will post -0.39 earnings per share for the current year.
A number of analysts recently commented on ARQL shares. Zacks Investment Research lowered ArQule from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. ValuEngine upgraded ArQule from a “strong sell” rating to a “sell” rating in a research report on Friday, November 17th. Finally, Needham & Company LLC upgraded ArQule from a “hold” rating to a “buy” rating in a research report on Thursday.
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ArQule, Inc is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations.
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