Capital Fund Management S.A. trimmed its position in shares of Array Biopharma Inc (NASDAQ:ARRY) by 73.4% during the third quarter, HoldingsChannel reports. The institutional investor owned 16,162 shares of the biopharmaceutical company’s stock after selling 44,537 shares during the period. Capital Fund Management S.A.’s holdings in Array Biopharma were worth $246,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Morgan Stanley grew its stake in Array Biopharma by 127.7% during the second quarter. Morgan Stanley now owns 3,578,476 shares of the biopharmaceutical company’s stock worth $60,048,000 after buying an additional 2,006,894 shares in the last quarter. FMR LLC grew its stake in Array Biopharma by 3.3% during the second quarter. FMR LLC now owns 24,390,396 shares of the biopharmaceutical company’s stock worth $409,271,000 after buying an additional 787,460 shares in the last quarter. Rhumbline Advisers grew its stake in Array Biopharma by 3.7% during the second quarter. Rhumbline Advisers now owns 200,956 shares of the biopharmaceutical company’s stock worth $3,372,000 after buying an additional 7,178 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in shares of Array Biopharma by 3.6% in the 2nd quarter. State of Wisconsin Investment Board now owns 207,700 shares of the biopharmaceutical company’s stock valued at $3,485,000 after purchasing an additional 7,300 shares in the last quarter. Finally, BlackRock Inc. boosted its stake in shares of Array Biopharma by 6.1% in the 2nd quarter. BlackRock Inc. now owns 16,919,696 shares of the biopharmaceutical company’s stock valued at $283,912,000 after purchasing an additional 970,259 shares in the last quarter. Hedge funds and other institutional investors own 94.93% of the company’s stock.

A number of equities research analysts have recently weighed in on ARRY shares. Guggenheim started coverage on shares of Array Biopharma in a research note on Monday, September 17th. They issued a “buy” rating on the stock. Cowen set a $22.00 price target on shares of Array Biopharma and gave the company a “buy” rating in a research note on Sunday, October 7th. BidaskClub upgraded shares of Array Biopharma from a “strong sell” rating to a “sell” rating in a research note on Wednesday, August 29th. Finally, Zacks Investment Research upgraded shares of Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $22.44.

In related news, insider Victor Sandor sold 115,185 shares of the firm’s stock in a transaction that occurred on Monday, December 3rd. The shares were sold at an average price of $16.21, for a total value of $1,867,148.85. Following the completion of the transaction, the insider now owns 337,483 shares in the company, valued at approximately $5,470,599.43. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Lunsen Gil J. Van sold 18,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $14.76, for a total transaction of $265,680.00. Following the completion of the transaction, the director now owns 37,297 shares of the company’s stock, valued at approximately $550,503.72. The disclosure for this sale can be found here. Company insiders own 2.10% of the company’s stock.

ARRY opened at $15.90 on Friday. Array Biopharma Inc has a 1-year low of $10.44 and a 1-year high of $20.21. The company has a debt-to-equity ratio of 0.60, a current ratio of 5.62 and a quick ratio of 5.62.

Array Biopharma (NASDAQ:ARRY) last posted its quarterly earnings results on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.10. Array Biopharma had a negative net margin of 66.77% and a negative return on equity of 74.02%. The company had revenue of $56.91 million for the quarter, compared to the consensus estimate of $34.47 million. During the same period last year, the company posted ($0.22) EPS. The firm’s quarterly revenue was up 91.3% compared to the same quarter last year. As a group, sell-side analysts predict that Array Biopharma Inc will post -0.65 earnings per share for the current year.

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Array Biopharma Profile

Array BioPharma Inc, a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer and other diseases in North America, Europe, and the Asia Pacific. It provides BRAFTOVITM (encorafenib) capsules in combination with MEKTOVI (binimetinib) tablets for the treatment of patients with unresectable or metastatic melanoma with a BRAF mutation.

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

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