OxFORD Asset Management LLP trimmed its holdings in shares of Array BioPharma Inc. (NASDAQ:ARRY) by 27.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 147,110 shares of the biopharmaceutical company’s stock after selling 56,520 shares during the period. OxFORD Asset Management LLP owned about 0.09% of Array BioPharma worth $1,231,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Array BioPharma by 15.5% during the 2nd quarter. Vanguard Group Inc. now owns 19,622,890 shares of the biopharmaceutical company’s stock worth $164,243,000 after buying an additional 2,629,475 shares during the last quarter. Northern Trust Corp boosted its stake in shares of Array BioPharma by 8.5% during the 2nd quarter. Northern Trust Corp now owns 2,130,493 shares of the biopharmaceutical company’s stock worth $17,832,000 after buying an additional 166,031 shares during the last quarter. GSA Capital Partners LLP boosted its stake in shares of Array BioPharma by 213.9% during the 2nd quarter. GSA Capital Partners LLP now owns 148,485 shares of the biopharmaceutical company’s stock worth $1,243,000 after buying an additional 101,179 shares during the last quarter. Quantitative Investment Management LLC acquired a new position in shares of Array BioPharma during the 2nd quarter worth about $3,713,000. Finally, New York State Common Retirement Fund boosted its stake in shares of Array BioPharma by 6.4% during the 2nd quarter. New York State Common Retirement Fund now owns 195,300 shares of the biopharmaceutical company’s stock worth $1,635,000 after buying an additional 11,699 shares during the last quarter. Institutional investors own 85.64% of the company’s stock.
A number of equities analysts have recently commented on the stock. Cantor Fitzgerald set a $13.00 price objective on shares of Array BioPharma and gave the stock a “buy” rating in a research note on Wednesday, August 9th. Piper Jaffray Companies restated a “buy” rating and set a $14.00 price objective on shares of Array BioPharma in a research note on Thursday, August 10th. 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. Zacks Investment Research upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a research note on Friday, August 11th. Finally, BidaskClub downgraded shares of Array BioPharma from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $13.36.
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Shares of Array BioPharma Inc. (ARRY) opened at 12.29 on Thursday. The company has a 50-day moving average of $11.01 and a 200 day moving average of $8.96. The firm’s market capitalization is $2.11 billion. Array BioPharma Inc. has a 52 week low of $5.36 and a 52 week high of $13.40.
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, topping the consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative net margin of 77.44% and a negative return on equity of 1,187.18%. The business had revenue of $33.80 million for the quarter, compared to analysts’ expectations of $28.64 million. During the same period in the previous year, the company earned ($0.17) earnings per share. The firm’s revenue for the quarter was down 21.8% compared to the same quarter last year. Equities research analysts anticipate that Array BioPharma Inc. will post ($0.99) earnings per share for the current year.
In related news, Director Kyle Lefkoff sold 38,865 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $12.31, for a total transaction of $478,428.15. Following the transaction, the director now directly owns 51,585 shares in the company, valued at $635,011.35. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.18% of the stock is currently owned by insiders.
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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