Morgan Stanley Sells 11,799 Shares of ArQule, Inc. (NASDAQ:ARQL)

Morgan Stanley cut its holdings in ArQule, Inc. (NASDAQ:ARQL) by 43.9% during the 2nd quarter, Holdings Channel reports. The firm owned 15,093 shares of the biotechnology company’s stock after selling 11,799 shares during the period. Morgan Stanley’s holdings in ArQule were worth $166,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Artal Group S.A. purchased a new stake in ArQule in the second quarter worth about $7,707,000. Allianz Asset Management GmbH lifted its holdings in ArQule by 1,566.4% in the second quarter. Allianz Asset Management GmbH now owns 264,915 shares of the biotechnology company’s stock worth $2,917,000 after buying an additional 249,018 shares during the period. Altshuler Shaham Ltd lifted its holdings in ArQule by 188.7% in the second quarter. Altshuler Shaham Ltd now owns 367,867 shares of the biotechnology company’s stock worth $4,051,000 after buying an additional 240,467 shares during the period. Atika Capital Management LLC purchased a new stake in ArQule in the second quarter worth about $3,490,000. Finally, Fosun International Ltd lifted its holdings in ArQule by 60.4% in the second quarter. Fosun International Ltd now owns 221,297 shares of the biotechnology company’s stock worth $2,397,000 after buying an additional 83,297 shares during the period. 85.26% of the stock is currently owned by institutional investors.

Several analysts have commented on ARQL shares. Royal Bank of Canada set a $12.00 price objective on shares of ArQule and gave the stock a “buy” rating in a report on Wednesday, October 9th. BidaskClub upgraded shares of ArQule from a “hold” rating to a “buy” rating in a report on Saturday, October 19th. Cantor Fitzgerald started coverage on shares of ArQule in a report on Thursday, October 17th. They issued an “overweight” rating and a $16.00 price objective for the company. Wolfe Research started coverage on shares of ArQule in a report on Tuesday, November 5th. They issued an “outperform” rating and a $17.00 price objective for the company. Finally, HC Wainwright started coverage on shares of ArQule in a report on Monday, September 16th. They issued a “buy” rating and a $13.00 price objective for the company. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $13.11.

ARQL stock opened at $7.88 on Friday. The firm has a 50 day moving average price of $8.61 and a 200-day moving average price of $8.69. ArQule, Inc. has a 52-week low of $2.23 and a 52-week high of $12.22. The company has a current ratio of 8.27, a quick ratio of 8.27 and a debt-to-equity ratio of 0.08.

ArQule (NASDAQ:ARQL) last released its earnings results on Wednesday, October 30th. The biotechnology company reported ($0.09) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.08) by ($0.01). ArQule had a negative net margin of 805.61% and a negative return on equity of 33.10%. The business had revenue of $0.21 million for the quarter, compared to analysts’ expectations of $1.20 million. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Research analysts predict that ArQule, Inc. will post -0.37 earnings per share for the current fiscal year.

ArQule Company Profile

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.

Further Reading: What is Considered a Good Return on Equity (ROE)?

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Institutional Ownership by Quarter for ArQule (NASDAQ:ARQL)

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