Cubist Systematic Strategies LLC Has $156,000 Position in Array BioPharma Inc. (ARRY)
Cubist Systematic Strategies LLC reduced its holdings in Array BioPharma Inc. (NASDAQ:ARRY) by 80.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 12,647 shares of the biopharmaceutical company’s stock after selling 53,160 shares during the period. Cubist Systematic Strategies LLC’s holdings in Array BioPharma were worth $156,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Point72 Asset Management L.P. raised its holdings in Array BioPharma by 274.4% in the third quarter. Point72 Asset Management L.P. now owns 9,008,999 shares of the biopharmaceutical company’s stock worth $110,811,000 after purchasing an additional 6,602,999 shares during the period. Crestline Management LP acquired a new stake in Array BioPharma in the third quarter worth $729,000. Nicholas Investment Partners LP acquired a new stake in Array BioPharma in the third quarter worth $3,409,000. BB&T Securities LLC raised its holdings in Array BioPharma by 8.8% in the third quarter. BB&T Securities LLC now owns 173,600 shares of the biopharmaceutical company’s stock worth $2,135,000 after purchasing an additional 14,000 shares during the period. Finally, Schwab Charles Investment Management Inc. raised its holdings in Array BioPharma by 7.8% in the third quarter. Schwab Charles Investment Management Inc. now owns 788,002 shares of the biopharmaceutical company’s stock worth $9,693,000 after purchasing an additional 56,815 shares during the period. Institutional investors and hedge funds own 98.13% of the company’s stock.
In related news, CEO Ron Squarer sold 819,671 shares of the firm’s stock in a transaction 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andrew R. Robbins sold 282,874 shares of the firm’s stock in a transaction 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. Company insiders own 3.18% of the company’s stock.
Shares of Array BioPharma Inc. (NASDAQ ARRY) opened at $13.71 on Friday. Array BioPharma Inc. has a twelve month low of $6.73 and a twelve month high of $14.40. The company has a current ratio of 5.43, a quick ratio of 5.43 and a debt-to-equity ratio of 0.54. The company has a market cap of $2,700.00, a price-to-earnings ratio of -18.53 and a beta of 1.91.
Array BioPharma (NASDAQ:ARRY) last issued its quarterly earnings data on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) EPS for the quarter, hitting 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 analyst estimates of $33.74 million. During the same period last year, the business posted ($0.20) earnings per share. The firm’s quarterly revenue was down 24.2% on a year-over-year basis. analysts predict that Array BioPharma Inc. will post -0.99 EPS for the current year.
Several research firms have weighed in on ARRY. Zacks Investment Research lowered shares of Array BioPharma from a “hold” rating to a “sell” rating in a report on Thursday, January 4th. Cantor Fitzgerald set a $15.00 target price on shares of Array BioPharma and gave the stock a “buy” rating in a report on Wednesday, January 3rd. Jefferies Group increased their target price on shares of Array BioPharma to $13.00 and gave the stock a “buy” rating in a report on Friday, December 22nd. BidaskClub upgraded shares of Array BioPharma from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Finally, Piper Jaffray Companies reiterated an “overweight” rating and issued a $18.00 target price (up from $14.00) on shares of Array BioPharma in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. Array BioPharma has an average rating of “Buy” and a consensus target price of $14.10.
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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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