Owners of ArQule(ARQL) on April 01 sold 1113000 shares and on March 31 they sold 2136000. the company has a total debt of 44 millions and their profitability at long term investment is rated at -141.31%. Few revenues and a huge negative NET INCOME OF -36.14MILLIONS. So be carefull!!!
You your own DD. The SEC form 4 tells that insiders have 4 millions, Insiders already sold a big percentage of their shares. Next, Friday after the market closes, another SEC report will be released mentioning about more insiders transactions, possible sales. Be careful, do not buy anymore, if you are long close your position because momentum already ended.
Well, we will see after today's presentation whether this thing has legs or not.
I'm already hedged with puts and well in the money on my position, so I'm content to ride this one out through the next earnings call where we will find out how big the milestone payment is and their plans for phase III.
For those that had this pre-announcement there really is no need to sell when you can protect the position with options and capture most of the upside if they continue to be successful with 197.
Lol! I forgot to mention, yesterday more insiders sold 603.000 shares, and possibility they're gonna keep selling today. You have to understand that ArQule finances really sucks! no net income generated during last quarters, and a huge debt! Overvalued price by now, it's just another pump & dump. Wait for the collapse very soon!