ArQule, Inc. (ARQL) Insider Sells $6,914,156.30 in Stock

ArQule, Inc. (NASDAQ:ARQL) insider Value Fund L. P. Biotechnology sold 2,230,373 shares of the business’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $3.10, for a total transaction of $6,914,156.30. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

ArQule traded up $0.25, reaching $3.25, on Tuesday, according to MarketBeat. The company’s stock had a trading volume of 1,327,100 shares, compared to its average volume of 705,985. The stock has a market cap of $240.47 million, a P/E ratio of -8.33 and a beta of 0.83. ArQule, Inc. has a 52 week low of $3.02 and a 52 week high of $3.31. The company has a quick ratio of 5.42, a current ratio of 5.42 and a debt-to-equity ratio of 1.50.

ArQule (NASDAQ:ARQL) last posted its earnings results on Monday, May 7th. The biotechnology company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.01). The company had revenue of $4.14 million for the quarter, compared to analyst estimates of $2.27 million. During the same quarter in the prior year, the firm posted ($0.11) earnings per share. research analysts anticipate that ArQule, Inc. will post -0.21 earnings per share for the current year.

A number of research analysts have recently commented on ARQL shares. Zacks Investment Research raised shares of ArQule from a “hold” rating to a “buy” rating and set a $2.75 price objective for the company in a research report on Tuesday, May 8th. B. Riley started coverage on shares of ArQule in a research report on Friday, February 2nd. They set a “buy” rating and a $3.00 price objective for the company. ValuEngine raised shares of ArQule from a “sell” rating to a “hold” rating in a research report on Thursday, March 15th. Roth Capital upped their price objective on shares of ArQule from $5.00 to $6.00 and gave the company a “buy” rating in a research report on Tuesday, April 17th. Finally, Leerink Swann raised shares of ArQule from a “market perform” rating to an “outperform” rating in a research report on Thursday, April 5th. Seven analysts have rated the stock with a buy rating, The stock presently has an average rating of “Buy” and an average price target of $4.69.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jane Street Group LLC bought a new stake in ArQule in the first quarter valued at about $100,000. Element Capital Management LLC bought a new stake in ArQule in the first quarter valued at about $225,000. Arnhold LLC bought a new stake in ArQule in the first quarter valued at about $432,000. Tibra Equities Europe Ltd bought a new stake in ArQule in the first quarter valued at about $530,000. Finally, JPMorgan Chase & Co. increased its stake in ArQule by 100.0% in the first quarter. JPMorgan Chase & Co. now owns 240,268 shares of the biotechnology company’s stock valued at $692,000 after acquiring an additional 120,109 shares during the period. 67.08% of the stock is currently owned by institutional investors and hedge funds.

ArQule Company Profile

ArQule, Inc, a biopharmaceutical company, researches and develops therapeutics for the treatment of cancer and rare diseases in the United States. Its lead product candidate is tivantinib (ARQ 197), a small molecule inhibitor of the c-Met receptor tyrosine kinase and its biological pathway, which is in Phase III clinical trial for the treatment of liver cancer.

Insider Buying and Selling by Quarter for ArQule (NASDAQ:ARQL)

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