Pictet Asset Management Ltd. cut its holdings in shares of Array Biopharma Inc (NASDAQ:ARRY) by 79.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 428,974 shares of the biopharmaceutical company’s stock after selling 1,634,985 shares during the period. Pictet Asset Management Ltd. owned approximately 0.19% of Array Biopharma worth $19,874,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Alpha Windward LLC bought a new stake in shares of Array Biopharma during the second quarter worth about $28,000. Cornerstone Advisors Inc. increased its position in shares of Array Biopharma by 38.2% during the first quarter. Cornerstone Advisors Inc. now owns 2,226 shares of the biopharmaceutical company’s stock worth $54,000 after acquiring an additional 615 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Array Biopharma during the first quarter worth about $84,000. Quantamental Technologies LLC bought a new stake in shares of Array Biopharma during the second quarter worth about $117,000. Finally, Rockefeller Capital Management L.P. increased its position in shares of Array Biopharma by 1,311.8% during the second quarter. Rockefeller Capital Management L.P. now owns 2,979 shares of the biopharmaceutical company’s stock worth $138,000 after acquiring an additional 2,768 shares in the last quarter.

Several research firms recently weighed in on ARRY. Leerink Swann cut shares of Array Biopharma from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $32.00 to $46.25 in a report on Tuesday, June 18th. SunTrust Banks cut shares of Array Biopharma from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Svb Leerink cut shares of Array Biopharma from an “outperform” rating to a “market perform” rating and boosted their target price for the company from $32.00 to $48.00 in a research note on Tuesday, June 18th. BidaskClub upgraded shares of Array Biopharma from a “hold” rating to a “buy” rating in a research note on Wednesday, July 31st. Finally, Jefferies Financial Group cut shares of Array Biopharma from a “buy” rating to a “hold” rating in a research note on Monday, June 17th. Nine investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $37.13.

Shares of ARRY stock remained flat at $$47.85 during trading on Friday. 206,500 shares of the company were exchanged, compared to its average volume of 4,985,577. The company has a market capitalization of $10.68 billion, a P/E ratio of -65.55 and a beta of 1.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.70 and a quick ratio of 5.65. The stock has a 50-day moving average price of $47.79 and a 200-day moving average price of $34.26. Array Biopharma Inc has a 12 month low of $12.56 and a 12 month high of $47.98.

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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