Candriam Luxembourg S.C.A. Decreases Stock Position in ArQule, Inc. (NASDAQ:ARQL)

Candriam Luxembourg S.C.A. lowered its stake in ArQule, Inc. (NASDAQ:ARQL) by 91.1% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 224,043 shares of the biotechnology company’s stock after selling 2,281,194 shares during the quarter. Candriam Luxembourg S.C.A. owned about 0.19% of ArQule worth $4,472,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ARQL. Metropolitan Life Insurance Co NY grew its stake in shares of ArQule by 4.7% during the first quarter. Metropolitan Life Insurance Co NY now owns 32,403 shares of the biotechnology company’s stock valued at $155,000 after buying an additional 1,459 shares during the last quarter. Bank of America Corp DE grew its stake in shares of ArQule by 323.2% during the second quarter. Bank of America Corp DE now owns 324,844 shares of the biotechnology company’s stock valued at $3,577,000 after buying an additional 248,087 shares during the last quarter. Royal Bank of Canada grew its stake in shares of ArQule by 129.5% during the second quarter. Royal Bank of Canada now owns 19,505 shares of the biotechnology company’s stock valued at $215,000 after buying an additional 11,005 shares during the last quarter. Bailard Inc. grew its stake in shares of ArQule by 14.8% during the third quarter. Bailard Inc. now owns 433,141 shares of the biotechnology company’s stock valued at $3,106,000 after buying an additional 56,000 shares during the last quarter. Finally, Curbstone Financial Management Corp bought a new stake in shares of ArQule in the third quarter worth about $535,000. Institutional investors and hedge funds own 74.63% of the company’s stock.

NASDAQ ARQL opened at $20.00 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 8.27 and a quick ratio of 8.27. The stock has a market capitalization of $2.42 billion, a PE ratio of -125.00 and a beta of 2.49. ArQule, Inc. has a 1 year low of $3.15 and a 1 year high of $20.45. The business’s 50-day moving average is $20.00 and its 200 day moving average is $12.63.

ARQL has been the topic of several recent analyst reports. Roth Capital reissued a “neutral” rating and issued a $18.00 target price (down from $20.00) on shares of ArQule in a research note on Tuesday, December 10th. Royal Bank of Canada cut ArQule from an “outperform” rating to a “sector perform” rating and raised their target price for the stock from $12.00 to $20.00 in a research note on Tuesday, December 10th. ValuEngine cut ArQule from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Zacks Investment Research cut ArQule from a “buy” rating to a “hold” rating in a research note on Thursday, October 31st. Finally, Cantor Fitzgerald cut ArQule from an “overweight” rating to a “neutral” rating and raised their target price for the stock from $16.00 to $20.00 in a research note on Tuesday, December 10th. Eight analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $16.78.

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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