Arqule Incorporated (NASDAQ:ARQL) Shorted Shares Increased By 1.39%

The stock of Arqule Incorporated (NASDAQ:ARQL) registered an increase of 1.39% in short interest. ARQL’s total short interest was 959,900 shares in April as published by FINRA. Its up 1.39% from 946,700 shares, reported previously. With 196,800 shares average volume, it will take short sellers 5 days to cover their ARQL’s short positions. The short interest to Arqule Incorporated’s float is 2.27%. The stock is up 2.61% or $0.04 after the news, hitting $1.57 per share. About 41,575 shares traded hands. ArQule, Inc. (NASDAQ:ARQL) has declined 8.93% since September 2, 2015 and is downtrending. It has underperformed by 14.00% the S&P500.

ArQule, Inc. is a clinical-stage biotechnology company. The company has a market cap of $104.97 million. The Firm is engaged in the research and development of therapeutics to treat cancers and rare diseases. It currently has negative earnings. These drugs target biological pathways implicated in a range of cancers and certain non-oncology indications.

Out of 3 analysts covering ArQule (NASDAQ:ARQL), 2 rate it “Buy”, 0 “Sell”, while 2 “Hold”. This means 50% are positive. ArQule was the topic in 2 analyst reports since December 9, 2015 according to StockzIntelligence Inc. RBC Capital Markets upgraded the stock on December 21 to “Outperform” rating.

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