Investors Buy Large Volume of Put Options on ArQule (NASDAQ:ARQL)

ArQule, Inc. (NASDAQ:ARQL) saw some unusual options trading on Wednesday. Investors bought 3,365 put options on the company. This represents an increase of 881% compared to the typical volume of 343 put options.

Shares of NASDAQ ARQL traded up $0.18 during midday trading on Friday, hitting $11.01. 3,590,500 shares of the company’s stock were exchanged, compared to its average volume of 2,204,883. The company has a debt-to-equity ratio of 0.17, a quick ratio of 6.45 and a current ratio of 6.45. ArQule has a twelve month low of $2.23 and a twelve month high of $11.11. The company has a market cap of $1.19 billion, a P/E ratio of -68.81 and a beta of 1.96. The firm has a fifty day simple moving average of $7.75.

ArQule (NASDAQ:ARQL) last released its quarterly earnings results on Wednesday, May 1st. The biotechnology company reported ($0.09) EPS for the quarter, missing the consensus estimate of ($0.08) by ($0.01). The firm had revenue of $1.35 million for the quarter, compared to analyst estimates of $1.70 million. ArQule had a negative return on equity of 28.90% and a negative net margin of 83.15%. On average, analysts anticipate that ArQule will post -0.37 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in shares of ArQule by 26.6% in the fourth quarter. BlackRock Inc. now owns 8,618,012 shares of the biotechnology company’s stock valued at $23,872,000 after buying an additional 1,808,657 shares in the last quarter. Vanguard Group Inc. boosted its stake in shares of ArQule by 59.9% in the third quarter. Vanguard Group Inc. now owns 5,991,497 shares of the biotechnology company’s stock valued at $33,912,000 after buying an additional 2,245,325 shares in the last quarter. Sphera Funds Management LTD. boosted its position in ArQule by 1.4% during the fourth quarter. Sphera Funds Management LTD. now owns 2,032,643 shares of the biotechnology company’s stock worth $5,630,000 after purchasing an additional 27,400 shares in the last quarter. Candriam Luxembourg S.C.A. boosted its position in ArQule by 20.4% during the first quarter. Candriam Luxembourg S.C.A. now owns 1,402,181 shares of the biotechnology company’s stock worth $6,717,000 after purchasing an additional 237,453 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in ArQule by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 1,187,121 shares of the biotechnology company’s stock worth $3,288,000 after purchasing an additional 15,739 shares in the last quarter. 72.21% of the stock is currently owned by institutional investors.

ARQL has been the subject of a number of research analyst reports. Roth Capital set a $8.00 target price on ArQule and gave the company a “buy” rating in a report on Thursday, March 7th. Oppenheimer set a $8.00 price target on ArQule and gave the company a “buy” rating in a research report on Thursday, March 7th. Zacks Investment Research raised ArQule from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research report on Monday, March 11th. B. Riley set a $7.00 price target on ArQule and gave the company a “buy” rating in a research report on Friday, March 8th. Finally, ValuEngine lowered ArQule from a “strong-buy” rating to a “buy” rating in a research report on Friday, March 15th. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $10.79.

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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