DAFNA Capital Management LLC cut its holdings in shares of ArQule, Inc. (NASDAQ:ARQL) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 784,508 shares of the biotechnology company’s stock after selling 22,500 shares during the period. DAFNA Capital Management LLC owned about 1.10% of ArQule worth $973,000 at the end of the most recent quarter.

Separately, Northern Trust Corp grew its position in ArQule by 0.9% during the 2nd quarter. Northern Trust Corp now owns 154,513 shares of the biotechnology company’s stock worth $192,000 after acquiring an additional 1,385 shares during the last quarter. 60.95% of the stock is owned by hedge funds and other institutional investors.

ArQule, Inc. (NASDAQ ARQL) traded down 0.89% during midday trading on Thursday, reaching $1.11. The company had a trading volume of 30,359 shares. ArQule, Inc. has a one year low of $0.92 and a one year high of $1.76. The company’s market capitalization is $79.00 million. The stock’s 50 day moving average is $1.11 and its 200 day moving average is $1.12.

ArQule (NASDAQ:ARQL) last posted its earnings results on Friday, August 4th. The biotechnology company reported ($0.10) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.11) by $0.01. During the same quarter in the prior year, the firm posted ($0.07) EPS. Equities research analysts forecast that ArQule, Inc. will post ($0.43) earnings per share for the current fiscal year.

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ARQL has been the topic of a number of research analyst reports. Zacks Investment Research upgraded ArQule from a “hold” rating to a “buy” rating and set a $1.25 price target on the stock in a research report on Friday, September 8th. ValuEngine lowered ArQule from a “sell” rating to a “strong sell” rating in a research report on Friday, September 1st.

About ArQule

ArQule, Inc is a biopharmaceutical company. The Company is engaged in the research and development of therapeutics to treat cancers and rare diseases. These drugs focuses on the biological pathways implicated in a range of cancers and certain non-oncology indications. Its clinical-stage pipeline consists of over four drug candidates, all of which are in targeted patient populations.

Institutional Ownership by Quarter for ArQule (NASDAQ:ARQL)

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