Strs Ohio lowered its position in shares of Array Biopharma Inc (NASDAQ:ARRY) by 9.6% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 58,100 shares of the biopharmaceutical company’s stock after selling 6,200 shares during the quarter. Strs Ohio’s holdings in Array Biopharma were worth $883,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Handelsbanken Fonder AB grew its holdings in shares of Array Biopharma by 43.3% during the third quarter. Handelsbanken Fonder AB now owns 1,423,000 shares of the biopharmaceutical company’s stock worth $21,630,000 after purchasing an additional 430,000 shares during the last quarter. Peregrine Capital Management LLC bought a new stake in shares of Array Biopharma during the third quarter worth about $17,000,000. Financial & Investment Management Group Ltd. grew its holdings in shares of Array Biopharma by 50.7% during the third quarter. Financial & Investment Management Group Ltd. now owns 334,604 shares of the biopharmaceutical company’s stock worth $5,086,000 after purchasing an additional 112,551 shares during the last quarter. Essex Investment Management Co. LLC bought a new stake in shares of Array Biopharma during the third quarter worth about $164,000. Finally, Northern Trust Corp grew its holdings in shares of Array Biopharma by 4.4% during the second quarter. Northern Trust Corp now owns 2,524,664 shares of the biopharmaceutical company’s stock worth $42,364,000 after purchasing an additional 105,314 shares during the last quarter. 92.56% of the stock is owned by institutional investors.
In related news, CFO Jason Haddock sold 20,000 shares of the company’s stock in a transaction that occurred on Wednesday, August 15th. The stock was sold at an average price of $13.92, for a total value of $278,400.00. Following the sale, the chief financial officer now directly owns 35,393 shares in the company, valued at $492,670.56. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Lunsen Gil J. Van sold 18,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $14.76, for a total value of $265,680.00. Following the completion of the sale, the director now owns 37,297 shares in the company, valued at $550,503.72. The disclosure for this sale can be found here. Insiders sold 47,687 shares of company stock worth $693,066 over the last quarter. 2.10% of the stock is currently owned by company insiders.
Several research firms have recently weighed in on ARRY. Zacks Investment Research cut Array Biopharma from a “hold” rating to a “sell” rating in a report on Tuesday, October 16th. Cowen set a $22.00 price target on Array Biopharma and gave the stock a “buy” rating in a report on Wednesday, October 31st. Finally, BidaskClub upgraded Array Biopharma from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. One research analyst has rated the stock with a sell rating, one has given a hold rating, nine have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $22.44.
Shares of ARRY stock opened at $16.47 on Monday. Array Biopharma Inc has a one year low of $10.21 and a one year high of $20.21. The company has a market capitalization of $3.51 billion, a P/E ratio of -22.56 and a beta of 1.11. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.60.
Array Biopharma (NASDAQ:ARRY) last announced its earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.22) by $0.10. Array Biopharma had a negative return on equity of 74.02% and a negative net margin of 66.77%. The business had revenue of $56.91 million for the quarter, compared to analysts’ expectations of $34.47 million. During the same period in the prior year, the business posted ($0.22) earnings per share. The firm’s revenue was up 91.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Array Biopharma Inc will post -0.66 EPS for the current fiscal year.
About Array Biopharma
Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.
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