Trading Report: The 23,100 Shares of Array BioPharma Inc. (ARRY) are sold by Swiss National Bank

The 23,100 Shares of Array BioPharma Inc. (ARRY) are sold by Swiss National Bank

Swiss National Bank decreased its position in Array BioPharma Inc. (NASDAQ:ARRY) by 9.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 211,700 shares of the biopharmaceutical company’s stock after selling 23,100 shares during the period. Swiss National Bank owned about 0.15% of Array BioPharma worth $754,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Teachers Advisors Inc. increased its stake in shares of Array BioPharma by 53.0% in the first quarter. Teachers Advisors Inc. now owns 1,914,146 shares of the biopharmaceutical company’s stock valued at $5,647,000 after buying an additional 663,458 shares during the last quarter. Panagora Asset Management Inc. increased its stake in shares of Array BioPharma by 114.6% in the first quarter. Panagora Asset Management Inc. now owns 1,676,754 shares of the biopharmaceutical company’s stock valued at $4,946,000 after buying an additional 895,303 shares during the last quarter. Candriam Luxembourg S.C.A. increased its stake in shares of Array BioPharma by 28.8% in the second quarter. Candriam Luxembourg S.C.A. now owns 849,000 shares of the biopharmaceutical company’s stock valued at $3,023,000 after buying an additional 190,000 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Array BioPharma by 48.7% in the first quarter. Goldman Sachs Group Inc. now owns 568,890 shares of the biopharmaceutical company’s stock valued at $1,679,000 after buying an additional 186,220 shares during the last quarter. Finally, Chicago Equity Partners LLC increased its stake in shares of Array BioPharma by 5,345.4% in the second quarter. Chicago Equity Partners LLC now owns 554,890 shares of the biopharmaceutical company’s stock valued at $1,975,000 after buying an additional 544,700 shares during the last quarter. 85.92% of the stock is owned by institutional investors and hedge funds.

Shares of Array BioPharma Inc. (NASDAQ:ARRY) traded down 1.20% on Friday, reaching $6.60. 5,248,874 shares of the company traded hands. Array BioPharma Inc. has a one year low of $2.38 and a one year high of $7.27. The company’s market capitalization is $957.15 million. The firm has a 50-day moving average price of $4.39 and a 200 day moving average price of $3.64.

Array BioPharma (NASDAQ:ARRY) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.16) EPS for the quarter, missing the consensus estimate of ($0.14) by $0.02. Array BioPharma had a negative return on equity of 568.67% and a negative net margin of 67.33%. The business had revenue of $43.20 million for the quarter, compared to analyst estimates of $41.51 million. During the same quarter in the prior year, the business earned ($0.09) earnings per share. The firm’s quarterly revenue was up 251.2% on a year-over-year basis. Equities analysts forecast that Array BioPharma Inc. will post ($0.72) EPS for the current fiscal year.

Several equities research analysts have commented on ARRY shares. Jefferies Group upped their target price on shares of Array BioPharma from $7.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, September 27th. Cantor Fitzgerald reissued a “buy” rating and set a $13.00 price objective on shares of Array BioPharma in a research report on Monday, September 26th. Stifel Nicolaus increased their price objective on shares of Array BioPharma from $7.00 to $8.00 and gave the stock a “buy” rating in a research report on Friday, August 5th. Zacks Investment Research raised shares of Array BioPharma from a “hold” rating to a “buy” rating and set a $4.00 price objective for the company in a research report on Tuesday, July 5th. Finally, Leerink Swann reissued a “buy” rating on shares of Array BioPharma in a research report on Monday, June 20th. One analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $8.38.

In related news, major shareholder Redmile Group, Llc sold 2,492,578 shares of Array BioPharma stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $6.36, for a total transaction of $15,852,796.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 2.60% of the company’s stock.

Array BioPharma Company Profile

Array BioPharma Inc is a biopharmaceutical company focused on the discovery, development and commercialization of small molecule drugs to treat patients afflicted with cancer. The Company’s wholly owned clinical stage drugs include Filanesib in Phase II clinical trials, is indicated for Kinesin spindle protein (KSP), inhibitor for MM; ARRY-797 in Phase II clinical trials, indicated for p38 inhibitor for Lamin A/C-related dilated cardiomyopathy (LMNA-DCM); ARRY-502 in Phase II clinical trials, indicated for CRTh2 antagonist for asthma, and ARRY-614 in Phase I clinical trials, is indicated for p38/Tie2 dual inhibitor for myelodysplastic syndromes (MDS).

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