Investors Buy High Volume of Array BioPharma Call Options (ARRY)

Array BioPharma Inc. (NASDAQ:ARRY) was the target of some unusual options trading on Tuesday. Traders bought 26,569 call options on the company. This is an increase of 3,926% compared to the average volume of 660 call options.

In other news, CEO Ron Squarer sold 819,671 shares of Array BioPharma stock in a transaction dated Tuesday, December 19th. The stock was sold at an average price of $10.86, for a total value of $8,901,627.06. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Jason Haddock sold 7,500 shares of Array BioPharma stock in a transaction dated Tuesday, January 16th. The stock was sold at an average price of $13.73, for a total value of $102,975.00. Following the completion of the sale, the chief financial officer now directly owns 36,368 shares in the company, valued at $499,332.64. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,131,545 shares of company stock worth $12,315,221. Insiders own 3.18% of the company’s stock.

A number of large investors have recently modified their holdings of ARRY. Los Angeles Capital Management & Equity Research Inc. bought a new position in Array BioPharma in the second quarter worth approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Array BioPharma by 70.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,244 shares of the biopharmaceutical company’s stock worth $118,000 after buying an additional 3,834 shares in the last quarter. Ameritas Investment Partners Inc. increased its position in shares of Array BioPharma by 7.2% during the second quarter. Ameritas Investment Partners Inc. now owns 15,148 shares of the biopharmaceutical company’s stock worth $127,000 after purchasing an additional 1,012 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in shares of Array BioPharma during the third quarter worth $146,000. Finally, Raymond James Financial Services Advisors Inc. increased its position in shares of Array BioPharma by 71.9% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the biopharmaceutical company’s stock worth $153,000 after purchasing an additional 7,661 shares in the last quarter. 98.14% of the stock is owned by institutional investors.

Shares of Array BioPharma (NASDAQ:ARRY) traded down $0.46 during trading hours on Friday, reaching $14.88. 3,132,591 shares of the company were exchanged, compared to its average volume of 4,260,000. The company has a market capitalization of $2,840.00, a P/E ratio of -20.11 and a beta of 2.03. Array BioPharma has a 52 week low of $6.73 and a 52 week high of $16.36. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.54.

Several research analysts recently commented on ARRY shares. Cantor Fitzgerald set a $15.00 price target on Array BioPharma and gave the stock a “buy” rating in a research report on Tuesday, October 31st. Stifel Nicolaus restated a “buy” rating on shares of Array BioPharma in a research report on Wednesday, November 1st. SunTrust Banks restated a “buy” rating and set a $16.00 target price on shares of Array BioPharma in a research report on Wednesday, November 1st. Jefferies Group boosted their target price on Array BioPharma to $13.00 and gave the company a “buy” rating in a research report on Friday, December 22nd. Finally, BidaskClub lowered Array BioPharma from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and nine have issued a buy rating to the company’s stock. Array BioPharma has a consensus rating of “Buy” and a consensus price target of $15.11.

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Array BioPharma Company Profile

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).

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