361 Capital LLC grew its holdings in shares of Array BioPharma Inc. (NASDAQ:ARRY) by 91.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 30,258 shares of the biopharmaceutical company’s stock after purchasing an additional 14,480 shares during the period. 361 Capital LLC’s holdings in Array BioPharma were worth $253,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. increased its position in shares of Array BioPharma by 84.8% in the 1st quarter. Russell Investments Group Ltd. now owns 131,922 shares of the biopharmaceutical company’s stock valued at $1,179,000 after acquiring an additional 60,527 shares during the period. Great West Life Assurance Co. Can increased its position in shares of Array BioPharma by 77.0% in the 1st quarter. Great West Life Assurance Co. Can now owns 17,700 shares of the biopharmaceutical company’s stock valued at $158,000 after acquiring an additional 7,700 shares during the period. Bank of New York Mellon Corp increased its position in shares of Array BioPharma by 4.7% in the 1st quarter. Bank of New York Mellon Corp now owns 842,076 shares of the biopharmaceutical company’s stock valued at $7,528,000 after acquiring an additional 37,974 shares during the period. Swiss National Bank increased its position in shares of Array BioPharma by 3.4% in the 1st quarter. Swiss National Bank now owns 250,000 shares of the biopharmaceutical company’s stock valued at $2,235,000 after acquiring an additional 8,200 shares during the period. Finally, Karp Capital Management Corp acquired a new position in shares of Array BioPharma in the 1st quarter valued at $181,000. Hedge funds and other institutional investors own 85.64% of the company’s stock.

Shares of Array BioPharma Inc. (ARRY) traded up 0.1570% during midday trading on Thursday, reaching $12.3093. The company’s stock had a trading volume of 421,805 shares. The company has a 50 day moving average of $11.01 and a 200-day moving average of $8.96. The stock’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 announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($0.17) EPS for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $28.64 million. During the same period in the prior year, the company earned ($0.17) earnings per share. The business’s revenue was down 21.8% compared to the same quarter last year. Equities research analysts predict that Array BioPharma Inc. will post ($0.99) earnings per share for the current year.

ARRY has been the topic of several research reports. BidaskClub raised Array BioPharma from a “strong sell” rating to a “sell” rating in a research report on Friday, August 25th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $15.00 price target on shares of Array BioPharma in a research report on Tuesday, September 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $13.00 price target on shares of Array BioPharma in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “buy” rating and set a $9.00 price target on shares of Array BioPharma in a research report on Tuesday, September 12th. Finally, J P Morgan Chase & Co reaffirmed a “buy” rating and set a $14.00 price target on shares of Array BioPharma in a research report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $13.36.

In other news, Director Kyle Lefkoff sold 38,865 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $12.31, for a total value of $478,428.15. Following the completion of the sale, the director now directly owns 51,585 shares of the company’s stock, valued at $635,011.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.18% of the stock is currently owned by corporate insiders.

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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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Institutional Ownership by Quarter for Array BioPharma (NASDAQ:ARRY)

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