American International Group Inc. Boosts Stake in Array BioPharma Inc. (ARRY)
American International Group Inc. grew its stake in shares of Array BioPharma Inc. (NASDAQ:ARRY) by 8.1% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 115,706 shares of the biopharmaceutical company’s stock after buying an additional 8,651 shares during the quarter. American International Group Inc. owned 0.06% of Array BioPharma worth $1,423,000 at the end of the most recent quarter.
Other institutional investors also recently bought and sold shares of the company. Bank of Montreal Can grew its holdings in shares of Array BioPharma by 10,802.4% during the 2nd quarter. Bank of Montreal Can now owns 164,408 shares of the biopharmaceutical company’s stock valued at $1,376,000 after purchasing an additional 162,900 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Array BioPharma by 19.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 157,040 shares of the biopharmaceutical company’s stock valued at $1,315,000 after purchasing an additional 25,118 shares during the last quarter. Janney Montgomery Scott LLC grew its holdings in shares of Array BioPharma by 52.0% during the 2nd quarter. Janney Montgomery Scott LLC now owns 24,250 shares of the biopharmaceutical company’s stock valued at $203,000 after purchasing an additional 8,300 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of Array BioPharma by 0.9% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 731,187 shares of the biopharmaceutical company’s stock valued at $6,121,000 after purchasing an additional 6,318 shares during the last quarter. Finally, First Trust Advisors LP bought a new position in shares of Array BioPharma during the 2nd quarter valued at $1,874,000. Hedge funds and other institutional investors own 98.16% of the company’s stock.
In other Array BioPharma news, Director Kyle Lefkoff sold 38,865 shares of Array BioPharma stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $12.31, for a total value of $478,428.15. Following the completion of the transaction, the director now directly owns 51,585 shares of the company’s stock, valued at $635,011.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 3.18% of the stock is currently owned by insiders.
Array BioPharma Inc. (NASDAQ:ARRY) opened at $11.12 on Friday. Array BioPharma Inc. has a 12-month low of $6.73 and a 12-month high of $13.40. The company has a quick ratio of 5.43, a current ratio of 5.43 and a debt-to-equity ratio of 0.54.
Array BioPharma (NASDAQ:ARRY) last issued its quarterly earnings results on Tuesday, October 31st. The biopharmaceutical company reported ($0.22) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.22). Array BioPharma had a negative net margin of 89.30% and a negative return on equity of 158.70%. The company had revenue of $29.75 million during the quarter, compared to analysts’ expectations of $33.74 million. During the same period last year, the company posted ($0.20) EPS. Array BioPharma’s revenue was down 24.2% on a year-over-year basis. equities analysts forecast that Array BioPharma Inc. will post -1.02 earnings per share for the current fiscal year.
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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).
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