Array BioPharma Inc. (ARRY) Shares Sold by California State Teachers Retirement System
California State Teachers Retirement System decreased its stake in Array BioPharma Inc. (NASDAQ:ARRY) by 9.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 276,259 shares of the biopharmaceutical company’s stock after selling 29,481 shares during the quarter. California State Teachers Retirement System’s holdings in Array BioPharma were worth $3,398,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors also recently made changes to their positions in ARRY. Schwab Charles Investment Management Inc. grew its position in shares of Array BioPharma by 0.9% in the second quarter. Schwab Charles Investment Management Inc. now owns 731,187 shares of the biopharmaceutical company’s stock valued at $6,121,000 after purchasing an additional 6,318 shares during the period. First Trust Advisors LP acquired a new stake in shares of Array BioPharma in the second quarter valued at about $1,874,000. Legal & General Group Plc grew its position in shares of Array BioPharma by 20.6% in the second quarter. Legal & General Group Plc now owns 67,656 shares of the biopharmaceutical company’s stock valued at $566,000 after purchasing an additional 11,546 shares during the period. BNP Paribas Arbitrage SA grew its position in shares of Array BioPharma by 796.3% in the second quarter. BNP Paribas Arbitrage SA now owns 19,826 shares of the biopharmaceutical company’s stock valued at $166,000 after purchasing an additional 17,614 shares during the period. Finally, Prudential Financial Inc. boosted its position in Array BioPharma by 9.1% during the second quarter. Prudential Financial Inc. now owns 18,957 shares of the biopharmaceutical company’s stock worth $159,000 after acquiring an additional 1,580 shares during the last quarter. Institutional investors and hedge funds own 98.13% of the company’s stock.
Shares of Array BioPharma Inc. (NASDAQ ARRY) opened at $12.59 on Tuesday. The stock has a market cap of $2,480.00, a P/E ratio of -17.01 and a beta of 1.91. Array BioPharma Inc. has a 52 week low of $6.73 and a 52 week high of $14.13. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.54.
Array BioPharma (NASDAQ:ARRY) last released its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22). Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The business had revenue of $29.75 million for the quarter, compared to the consensus estimate of $33.74 million. During the same period in the previous year, the firm earned ($0.20) EPS. The business’s revenue was down 24.2% on a year-over-year basis. sell-side analysts anticipate that Array BioPharma Inc. will post -0.99 earnings per share for the current fiscal year.
In other Array BioPharma news, CEO Ron Squarer sold 819,671 shares of the business’s stock in a transaction that occurred on Tuesday, December 19th. The shares were sold at an average price of $10.86, for a total transaction of $8,901,627.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew R. Robbins sold 282,874 shares of the business’s stock in a transaction that occurred on Monday, December 18th. The stock was sold at an average price of $10.72, for a total transaction of $3,032,409.28. The disclosure for this sale can be found here. 3.18% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on ARRY. Zacks Investment Research lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a research report on Thursday, January 4th. Cantor Fitzgerald set a $15.00 price target on shares of Array BioPharma and gave the stock a “buy” rating in a research report on Wednesday, January 3rd. Jefferies Group boosted their price target on shares of Array BioPharma to $13.00 and gave the stock a “buy” rating in a research report on Friday, December 22nd. BidaskClub upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a research report on Friday, December 22nd. Finally, SunTrust Banks reaffirmed a “buy” rating and set a $16.00 target price on shares of Array BioPharma in a research note on Wednesday, November 1st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $14.10.
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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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