TIAA CREF Investment Management LLC reduced its stake in shares of Array BioPharma Inc. (NASDAQ:ARRY) by 5.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 570,182 shares of the biopharmaceutical company’s stock after selling 33,346 shares during the quarter. TIAA CREF Investment Management LLC owned about 0.33% of Array BioPharma worth $4,772,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Quantitative Systematic Strategies LLC grew its stake in Array BioPharma by 9.6% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 12,568 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 1,103 shares during the last quarter. Teacher Retirement System of Texas grew its stake in Array BioPharma by 8.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 972 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in Array BioPharma during the 2nd quarter worth $110,000. Caxton Associates LP bought a new position in Array BioPharma during the 1st quarter worth $142,000. Finally, Prudential Financial Inc. grew its stake in Array BioPharma by 3.5% during the 1st quarter. Prudential Financial Inc. now owns 17,377 shares of the biopharmaceutical company’s stock worth $155,000 after buying an additional 590 shares during the last quarter. Hedge funds and other institutional investors own 85.77% of the company’s stock.
Array BioPharma Inc. (NASDAQ ARRY) opened at 10.91 on Friday. The company’s market cap is $1.87 billion. Array BioPharma Inc. has a 1-year low of $5.36 and a 1-year high of $13.40. The stock has a 50 day moving average price of $11.48 and a 200 day moving average price of $9.14.
Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative return on equity of 1,187.18% and a negative net margin of 77.44%. The firm had revenue of $33.80 million during the quarter, compared to analysts’ expectations of $28.64 million. During the same period last year, the firm posted ($0.17) EPS. The business’s revenue was down 21.8% on a year-over-year basis. Equities analysts forecast that Array BioPharma Inc. will post ($0.99) earnings per share for the current year.
COPYRIGHT VIOLATION WARNING: “TIAA CREF Investment Management LLC Lowers Stake in Array BioPharma Inc. (ARRY)” was originally posted by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are accessing this story on another publication, it was illegally copied and republished in violation of U.S. & international trademark and copyright legislation. The correct version of this story can be viewed at https://www.dispatchtribunal.com/2017/10/28/array-biopharma-inc-arry-shares-sold-by-tiaa-cref-investment-management-llc.html.
A number of brokerages recently commented on ARRY. Stifel Nicolaus restated a “buy” rating and set a $13.00 price objective on shares of Array BioPharma in a research note on Thursday, August 10th. Piper Jaffray Companies set a $14.00 price objective on Array BioPharma and gave the stock a “buy” rating in a research note on Tuesday, July 18th. Cantor Fitzgerald restated an “overweight” rating and set a $15.00 price objective (up from $13.00) on shares of Array BioPharma in a research note on Friday, September 8th. Jefferies Group LLC set a $9.00 price objective on Array BioPharma and gave the stock a “buy” rating in a research note on Friday, August 25th. Finally, BidaskClub cut Array BioPharma from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $13.36.
In other news, Director Kyle Lefkoff sold 38,865 shares of Array BioPharma stock in a transaction on Friday, September 29th. The stock was sold at an average price of $12.31, for a total value of $478,428.15. Following the completion of the sale, the director now directly owns 51,585 shares of the company’s stock, valued at approximately $635,011.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 3.18% of the stock is currently owned by company insiders.
About Array BioPharma
Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib (partnered with AstraZeneca, PLC).
Receive News & Ratings for Array BioPharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma Inc. and related companies with MarketBeat.com's FREE daily email newsletter.