California Public Employees Retirement System Raises Stake in ArQule, Inc. (NASDAQ:ARQL)

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California Public Employees Retirement System increased its stake in ArQule, Inc. (NASDAQ:ARQL) by 11.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 264,797 shares of the biotechnology company’s stock after buying an additional 28,000 shares during the period. California Public Employees Retirement System’s holdings in ArQule were worth $5,285,000 as of its most recent filing with the SEC.

Several other large investors also recently modified their holdings of the stock. Voya Investment Management LLC boosted its holdings in shares of ArQule by 2.6% in the 3rd quarter. Voya Investment Management LLC now owns 43,598 shares of the biotechnology company’s stock worth $313,000 after buying an additional 1,125 shares during the last quarter. Metropolitan Life Insurance Co NY boosted its holdings in shares of ArQule by 4.7% in the 1st quarter. Metropolitan Life Insurance Co NY now owns 32,403 shares of the biotechnology company’s stock worth $155,000 after buying an additional 1,459 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of ArQule by 24.7% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 8,886 shares of the biotechnology company’s stock worth $177,000 after buying an additional 1,762 shares during the last quarter. Strs Ohio purchased a new position in shares of ArQule in the 4th quarter worth about $41,000. Finally, Rhumbline Advisers boosted its holdings in shares of ArQule by 4.4% in the 3rd quarter. Rhumbline Advisers now owns 148,825 shares of the biotechnology company’s stock worth $1,067,000 after buying an additional 6,229 shares during the last quarter. 74.63% of the stock is currently owned by institutional investors.

A number of equities analysts recently weighed in on ARQL shares. HC Wainwright downgraded shares of ArQule from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $13.00 to $20.00 in a report on Tuesday, December 10th. BidaskClub downgraded shares of ArQule from a “strong-buy” rating to a “buy” rating in a report on Thursday, January 16th. B. Riley restated a “neutral” rating and issued a $20.00 price objective (up from $14.00) on shares of ArQule in a research note on Tuesday, December 10th. 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 boosted their price objective for the company from $16.00 to $20.00 in a research note on Tuesday, December 10th. Eight research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $16.78.

Shares of ArQule stock opened at $20.00 on Friday. ArQule, Inc. has a 52-week low of $3.15 and a 52-week high of $20.45. The stock’s 50-day simple moving average is $20.00 and its 200 day simple moving average is $12.63. The stock has a market capitalization of $2.42 billion, a P/E ratio of -125.00 and a beta of 2.49. The company has a debt-to-equity ratio of 0.08, a quick ratio of 8.27 and a current ratio of 8.27.

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.

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Institutional Ownership by Quarter for ArQule (NASDAQ:ARQL)

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