Cubist Systematic Strategies LLC Has $2.17 Million Stake in Array Biopharma Inc (NASDAQ:ARRY)

Cubist Systematic Strategies LLC lifted its stake in shares of Array Biopharma Inc (NASDAQ:ARRY) by 201.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 129,461 shares of the biopharmaceutical company’s stock after purchasing an additional 86,529 shares during the period. Cubist Systematic Strategies LLC owned 0.06% of Array Biopharma worth $2,172,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in shares of Array Biopharma by 127.7% during the 2nd quarter. Morgan Stanley now owns 3,578,476 shares of the biopharmaceutical company’s stock worth $60,048,000 after acquiring an additional 2,006,894 shares during the last quarter. FMR LLC lifted its holdings in shares of Array Biopharma by 3.3% during the 2nd quarter. FMR LLC now owns 24,390,396 shares of the biopharmaceutical company’s stock worth $409,271,000 after acquiring an additional 787,460 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of Array Biopharma by 3.7% during the 2nd quarter. Rhumbline Advisers now owns 200,956 shares of the biopharmaceutical company’s stock worth $3,372,000 after acquiring an additional 7,178 shares during the last quarter. Xact Kapitalforvaltning AB lifted its holdings in shares of Array Biopharma by 17.5% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 30,278 shares of the biopharmaceutical company’s stock worth $508,000 after acquiring an additional 4,500 shares during the last quarter. Finally, State of Wisconsin Investment Board lifted its holdings in shares of Array Biopharma by 3.6% during the 2nd quarter. State of Wisconsin Investment Board now owns 207,700 shares of the biopharmaceutical company’s stock worth $3,485,000 after acquiring an additional 7,300 shares during the last quarter. Institutional investors and hedge funds own 91.81% of the company’s stock.

In related news, Director Lunsen Gil J. Van sold 21,500 shares of the business’s stock in a transaction dated Wednesday, July 18th. The shares were sold at an average price of $16.56, for a total transaction of $356,040.00. Following the transaction, the director now owns 29,797 shares in the company, valued at $493,438.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Jason Haddock sold 20,000 shares of the business’s stock in a transaction dated Wednesday, August 15th. The shares were sold at an average price of $13.92, for a total transaction of $278,400.00. Following the transaction, the chief financial officer now owns 35,393 shares in the company, valued at approximately $492,670.56. The disclosure for this sale can be found here. Insiders have sold 94,187 shares of company stock worth $1,420,856 in the last quarter. 2.10% of the stock is owned by corporate insiders.

Shares of ARRY stock traded down $1.08 during mid-day trading on Friday, reaching $13.98. The stock had a trading volume of 4,906,836 shares, compared to its average volume of 2,921,348. Array Biopharma Inc has a 52-week low of $9.98 and a 52-week high of $20.21. The stock has a market capitalization of $3.24 billion, a price-to-earnings ratio of -19.15 and a beta of 1.11. The company has a current ratio of 4.71, a quick ratio of 4.71 and a debt-to-equity ratio of 0.42.

Array Biopharma (NASDAQ:ARRY) last released its quarterly earnings data on Tuesday, August 14th. The biopharmaceutical company reported ($0.25) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). Array Biopharma had a negative net margin of 84.79% and a negative return on equity of 80.54%. The firm had revenue of $35.40 million during the quarter, compared to analysts’ expectations of $38.73 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. Array Biopharma’s revenue was up 4.7% compared to the same quarter last year. Equities analysts predict that Array Biopharma Inc will post -0.72 EPS for the current year.

A number of analysts have recently issued reports on the stock. Guggenheim initiated coverage on shares of Array Biopharma in a report on Monday, September 17th. They set a “buy” rating for the company. BidaskClub raised shares of Array Biopharma from a “sell” rating to a “hold” rating in a research note on Wednesday, September 5th. Zacks Investment Research raised shares of Array Biopharma from a “sell” rating to a “hold” rating in a research note on Friday, August 17th. Wells Fargo & Co boosted their price target on shares of Array Biopharma from $31.00 to $33.00 and gave the stock an “outperform” rating in a research note on Thursday, June 28th. Finally, Piper Jaffray Companies boosted their price target on shares of Array Biopharma from $21.00 to $25.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 27th. Two analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $22.50.

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.

See Also: Compound Annual Growth Rate (CAGR)

Institutional Ownership by Quarter for Array Biopharma (NASDAQ:ARRY)

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