Kennedy Capital Management Inc. acquired a new stake in shares of Array Biopharma Inc (NASDAQ:ARRY) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 309,188 shares of the biopharmaceutical company’s stock, valued at approximately $3,958,000. Kennedy Capital Management Inc. owned about 0.15% of Array Biopharma at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of 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 during the last quarter. Quantitative Systematic Strategies LLC acquired a new stake in shares of Array Biopharma in the fourth quarter worth about $169,000. First Mercantile Trust Co. acquired a new stake in shares of Array Biopharma in the fourth quarter worth about $182,000. Quantbot Technologies LP lifted its position in shares of Array Biopharma by 803.5% in the third quarter. Quantbot Technologies LP now owns 18,205 shares of the biopharmaceutical company’s stock worth $223,000 after buying an additional 16,190 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its position in shares of Array Biopharma by 71.9% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 18,317 shares of the biopharmaceutical company’s stock worth $153,000 after buying an additional 7,661 shares during the last quarter. 96.41% of the stock is owned by hedge funds and other institutional investors.
In other news, CFO Jason Haddock sold 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 16th. The stock was sold at an average price of $13.73, for a total value of $102,975.00. Following the sale, the chief financial officer now directly owns 36,368 shares in the company, valued at approximately $499,332.64. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Victor Sandor sold 156,016 shares of the company’s stock in a transaction that occurred on Friday, March 9th. The shares were sold at an average price of $17.71, for a total value of $2,763,043.36. The disclosure for this sale can be found here. Over the last quarter, insiders sold 256,516 shares of company stock worth $4,358,168. Corporate insiders own 3.18% of the company’s stock.
A number of analysts have weighed in on ARRY shares. BidaskClub cut Array Biopharma from a “hold” rating to a “sell” rating in a research report on Saturday, December 2nd. Jefferies Group boosted their price target on Array Biopharma to $13.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. Cantor Fitzgerald set a $15.00 price target on Array Biopharma and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Zacks Investment Research cut Array Biopharma from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Finally, Stifel Nicolaus boosted their price objective on Array Biopharma from $15.00 to $20.00 and gave the stock a “buy” rating in a research report on Monday, January 22nd. Three analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $16.43.
Shares of Array Biopharma Inc (NASDAQ ARRY) traded up $0.41 on Tuesday, reaching $16.85. The company had a trading volume of 896,560 shares, compared to its average volume of 4,018,790. Array Biopharma Inc has a 1 year low of $6.73 and a 1 year high of $18.78. The company has a quick ratio of 6.17, a current ratio of 6.17 and a debt-to-equity ratio of 0.39. The company has a market capitalization of $3,494.53, a price-to-earnings ratio of -21.81 and a beta of 1.80.
Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, February 6th. The biopharmaceutical company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.23) by $0.06. Array Biopharma had a negative return on equity of 107.79% and a negative net margin of 98.51%. The firm had revenue of $42.21 million for the quarter, compared to analyst estimates of $26.81 million. During the same period in the previous year, the company posted ($0.14) earnings per share. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. equities research analysts expect that Array Biopharma Inc will post -0.87 earnings per share for the current fiscal year.
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Array Biopharma 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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