UBS Asset Management Americas Inc. Has $6.60 Million Position in Array BioPharma Inc. (ARRY)
UBS Asset Management Americas Inc. cut its stake in Array BioPharma Inc. (NASDAQ:ARRY) by 3.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 788,992 shares of the biopharmaceutical company’s stock after selling 24,640 shares during the period. UBS Asset Management Americas Inc. owned 0.46% of Array BioPharma worth $6,604,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the stock. Quantitative Systematic Strategies LLC boosted its holdings in shares of Array BioPharma by 9.6% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 12,568 shares of the biopharmaceutical company’s stock worth $106,000 after buying an additional 1,103 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of Array BioPharma by 8.3% during the 2nd quarter. Teacher Retirement System of Texas now owns 12,737 shares of the biopharmaceutical company’s stock worth $107,000 after buying an additional 972 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new position in shares of Array BioPharma during the 2nd quarter worth approximately $110,000. Quantbot Technologies LP boosted its holdings in shares of Array BioPharma by 10.9% during the 1st quarter. Quantbot Technologies LP now owns 14,523 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 1,423 shares in the last quarter. Finally, Caxton Associates LP bought a new position in shares of Array BioPharma during the 1st quarter worth approximately $142,000. Institutional investors and hedge funds own 87.04% of the company’s stock.
In related news, Director Kyle Lefkoff sold 38,865 shares of Array BioPharma stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $12.31, for a total transaction of $478,428.15. Following the sale, 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 Securities & Exchange Commission, which is available at the SEC website. Insiders own 3.18% of the company’s stock.
A number of equities analysts have issued reports on ARRY shares. BidaskClub upgraded Array BioPharma from a “strong sell” rating to a “sell” rating in a report on Thursday, June 22nd. Zacks Investment Research cut Array BioPharma from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Cantor Fitzgerald restated a “buy” rating and set a $13.00 price target on shares of Array BioPharma in a report on Tuesday, July 18th. Piper Jaffray Companies set a $14.00 price target on Array BioPharma and gave the stock a “buy” rating in a report on Tuesday, July 18th. Finally, Stifel Nicolaus restated a “buy” rating and set a $13.00 price target on shares of Array BioPharma in a report on Thursday, August 10th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $13.36.
Array BioPharma Inc. (NASDAQ ARRY) opened at 12.32 on Friday. The stock’s 50 day moving average price is $10.71 and its 200-day moving average price is $8.89. The firm’s market capitalization is $2.11 billion. Array BioPharma Inc. has a 12 month low of $5.36 and a 12 month 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, beating the Thomson Reuters’ consensus estimate of ($0.21) by $0.04. Array BioPharma had a negative return on equity of 1,187.18% and a negative net margin of 77.44%. The company had revenue of $33.80 million for the quarter, compared to analyst estimates of $28.64 million. During the same period in the previous year, the company posted ($0.17) earnings per share. The firm’s revenue was down 21.8% on a year-over-year basis. Equities analysts anticipate that Array BioPharma Inc. will post ($0.99) EPS for the current fiscal year.
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).
Receive News & Ratings for Array BioPharma Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Array BioPharma Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.