Los Angeles Capital Management & Equity Research Inc. Sells 29,890 Shares of Array Biopharma Inc (ARRY)

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Los Angeles Capital Management & Equity Research Inc. lessened its position in Array Biopharma Inc (NASDAQ:ARRY) by 40.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 43,330 shares of the biopharmaceutical company’s stock after selling 29,890 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in Array Biopharma were worth $617,000 as of its most recent filing with the SEC.

Other institutional investors have also recently made changes to their positions in the company. Meeder Asset Management Inc. raised its position in Array Biopharma by 635.8% in the 4th quarter. Meeder Asset Management Inc. now owns 2,097 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 1,812 shares during the last quarter. Exane Derivatives acquired a new position in shares of Array Biopharma during the 4th quarter worth approximately $39,000. IFP Advisors Inc acquired a new position in shares of Array Biopharma during the 4th quarter worth approximately $40,000. Bank of Montreal Can increased its position in shares of Array Biopharma by 47.3% during the 4th quarter. Bank of Montreal Can now owns 5,879 shares of the biopharmaceutical company’s stock worth $83,000 after purchasing an additional 1,888 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in shares of Array Biopharma by 54.2% during the 3rd quarter. Glenmede Trust Co. NA now owns 10,385 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 3,650 shares during the last quarter. 97.09% of the stock is currently owned by institutional investors and hedge funds.

ARRY stock opened at $24.01 on Thursday. The company has a debt-to-equity ratio of 0.46, a current ratio of 6.31 and a quick ratio of 6.31. Array Biopharma Inc has a 1-year low of $12.56 and a 1-year high of $24.03.

Array Biopharma (NASDAQ:ARRY) last posted its earnings results on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.11. The business had revenue of $82.55 million for the quarter, compared to analyst estimates of $52.44 million. Array Biopharma had a negative return on equity of 44.37% and a negative net margin of 46.20%. The firm’s revenue was up 95.5% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.17) EPS. On average, analysts forecast that Array Biopharma Inc will post -0.6 earnings per share for the current fiscal year.

Several research analysts have weighed in on ARRY shares. Zacks Investment Research lowered Array Biopharma from a “buy” rating to a “hold” rating in a research report on Monday, January 21st. Stifel Nicolaus boosted their price target on Array Biopharma from $24.00 to $26.00 and gave the stock a “buy” rating in a research report on Wednesday, December 12th. BidaskClub raised Array Biopharma from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. Goldman Sachs Group started coverage on Array Biopharma in a research report on Thursday, December 13th. They set a “neutral” rating and a $20.00 price target on the stock. Finally, Leerink Swann started coverage on Array Biopharma in a research report on Thursday, January 17th. They set an “outperform” rating and a $28.00 price target on the stock. Two research analysts have rated the stock with a hold rating, eight have assigned a buy rating and two have assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $26.22.

In related news, COO Andrew R. Robbins sold 239,626 shares of the business’s stock in a transaction that occurred on Wednesday, February 6th. The stock was sold at an average price of $20.03, for a total transaction of $4,799,708.78. Following the transaction, the chief operating officer now directly owns 212,120 shares of the company’s stock, valued at approximately $4,248,763.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Carrie Smith Cox bought 5,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 19th. The shares were acquired at an average cost of $23.20 per share, for a total transaction of $116,000.00. Following the completion of the acquisition, the director now directly owns 8,000 shares in the company, valued at approximately $185,600. The disclosure for this purchase can be found here. Insiders have sold a total of 969,576 shares of company stock worth $19,585,161 over the last three months. 2.10% of the stock is owned by insiders.

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Array Biopharma Company 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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