Deutsche Bank AG bought a new position in shares of ArQule, Inc. (NASDAQ:ARQL) in the fourth quarter, HoldingsChannel reports. The firm bought 236,668 shares of the biotechnology company’s stock, valued at approximately $390,000.
Separately, Renaissance Technologies LLC boosted its position in shares of ArQule by 15.9% during the fourth quarter. Renaissance Technologies LLC now owns 2,295,703 shares of the biotechnology company’s stock worth $3,788,000 after acquiring an additional 315,203 shares during the last quarter. Institutional investors own 67.08% of the company’s stock.
In other news, Director Patrick J. Zenner bought 8,446 shares of ArQule stock in a transaction dated Monday, May 14th. The shares were acquired at an average price of $2.96 per share, with a total value of $25,000.16. Following the completion of the purchase, the director now owns 82,216 shares in the company, valued at approximately $243,359.36. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Value Fund L. P. Biotechnology sold 2,230,373 shares of the stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $3.10, for a total transaction of $6,914,156.30. The disclosure for this sale can be found here. In the last ninety days, insiders have purchased 33,646 shares of company stock worth $92,245. 7.90% of the stock is owned by insiders.
ArQule opened at $3.63 on Friday, Marketbeat reports. 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, Inc. has a 52-week low of $3.21 and a 52-week high of $3.45.
ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Monday, May 7th. The biotechnology company reported ($0.07) earnings per share (EPS) 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 the consensus estimate of $2.27 million. During the same quarter last year, the firm posted ($0.11) earnings per share. sell-side analysts forecast that ArQule, Inc. will post -0.21 earnings per share for the current fiscal year.
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.
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