Point72 Asset Management L.P. Acquires New Holdings in ArQule, Inc. (ARQL)

Point72 Asset Management L.P. bought a new position in ArQule, Inc. (NASDAQ:ARQL) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,000,000 shares of the biotechnology company’s stock, valued at approximately $2,220,000. Point72 Asset Management L.P. owned about 2.30% of ArQule at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC grew its position in shares of ArQule by 5.0% during the 3rd quarter. First Eagle Investment Management LLC now owns 12,438,996 shares of the biotechnology company’s stock worth $13,807,000 after buying an additional 591,421 shares during the period. Curbstone Financial Management Corp grew its position in shares of ArQule by 100.0% during the 3rd quarter. Curbstone Financial Management Corp now owns 104,572 shares of the biotechnology company’s stock worth $116,000 after buying an additional 52,286 shares during the period. Finally, Northern Trust Corp grew its position in shares of ArQule by 0.9% during the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after buying an additional 1,385 shares during the period. 52.12% of the stock is owned by institutional investors.

Several equities research analysts have recently commented on ARQL shares. Zacks Investment Research cut shares of ArQule from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. ValuEngine upgraded shares of ArQule from a “strong sell” rating to a “sell” rating in a research report on Friday, November 17th. Finally, Needham & Company LLC upgraded shares of ArQule from a “hold” rating to a “buy” rating in a research report on Thursday, December 14th.

Shares of ArQule, Inc. (ARQL) traded up $0.01 during trading hours on Friday, hitting $1.83. 198,307 shares of the stock traded hands, compared to its average volume of 306,622. ArQule, Inc. has a 12 month low of $0.92 and a 12 month high of $1.98. The company has a debt-to-equity ratio of 2.33, a quick ratio of 3.45 and a current ratio of 3.45. The firm has a market cap of $158.54, a PE ratio of -4.58 and a beta of 1.38.

ArQule (NASDAQ:ARQL) last issued its quarterly earnings results on Thursday, November 9th. The biotechnology company reported ($0.09) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.02. During the same quarter last year, the firm posted ($0.08) EPS. sell-side analysts anticipate that ArQule, Inc. will post -0.39 EPS for the current year.

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About ArQule

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.

Institutional Ownership by Quarter for ArQule (NASDAQ:ARQL)

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