Array Biopharma Inc (ARRY) Shares Bought by Moody Aldrich Partners LLC
Moody Aldrich Partners LLC lifted its holdings in Array Biopharma Inc (NASDAQ:ARRY) by 119.2% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 162,039 shares of the biopharmaceutical company’s stock after buying an additional 88,109 shares during the quarter. Moody Aldrich Partners LLC owned 0.08% of Array Biopharma worth $2,719,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the stock. CIBC Private Wealth Group LLC purchased a new stake in shares of Array Biopharma in the second quarter valued at $101,000. Ladenburg Thalmann Financial Services Inc. lifted its position in shares of Array Biopharma by 107.9% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 8,614 shares of the biopharmaceutical company’s stock valued at $140,000 after acquiring an additional 4,470 shares in the last quarter. Oppenheimer Asset Management Inc. purchased a new stake in shares of Array Biopharma in the second quarter valued at $191,000. GSA Capital Partners LLP purchased a new stake in shares of Array Biopharma in the first quarter valued at $208,000. Finally, Royal Bank of Canada lifted its position in shares of Array Biopharma by 266.7% in the first quarter. Royal Bank of Canada now owns 12,874 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 9,363 shares in the last quarter. Hedge funds and other institutional investors own 91.81% of the company’s stock.
In other news, Director Lunsen Gil J. Van sold 21,500 shares of the company’s stock in a transaction dated Wednesday, July 18th. The stock was sold at an average price of $16.56, for a total value of $356,040.00. Following the completion of the sale, the director now owns 29,797 shares of the company’s stock, valued at $493,438.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Victor Sandor sold 9,687 shares of the company’s stock in a transaction dated Tuesday, September 4th. The stock was sold at an average price of $15.38, for a total value of $148,986.06. The disclosure for this sale can be found here. Insiders sold 94,187 shares of company stock valued at $1,420,856 in the last ninety days. Company insiders own 2.10% of the company’s stock.
Array Biopharma (NASDAQ:ARRY) last announced its quarterly earnings results on Tuesday, August 14th. The biopharmaceutical company reported ($0.25) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.24) by ($0.01). The firm had revenue of $35.40 million for the quarter, compared to analyst estimates of $38.73 million. Array Biopharma had a negative return on equity of 80.54% and a negative net margin of 84.79%. During the same quarter in the prior year, the company earned ($0.17) earnings per share. The business’s revenue was up 4.7% compared to the same quarter last year. As a group, research analysts anticipate that Array Biopharma Inc will post -0.72 earnings per share for the current year.
Several equities analysts recently commented on ARRY shares. Guggenheim started coverage on Array Biopharma in a research note on Monday, September 17th. They issued a “buy” rating for the company. SunTrust Banks upped their target price on Array Biopharma to $25.00 and gave the company a “buy” rating in a research note on Monday, June 25th. Cantor Fitzgerald reiterated a “buy” rating and issued a $26.00 target price (up from $24.00) on shares of Array Biopharma in a research note on Sunday, June 24th. Cowen set a $22.00 target price on Array Biopharma and gave the company a “buy” rating in a research note on Sunday, October 7th. Finally, Zacks Investment Research upgraded Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, nine have given a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $22.44.
About Array Biopharma
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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