Man Group plc Invests $1.89 Million in Array Biopharma Inc (ARRY) Stock

Man Group plc purchased a new stake in shares of Array Biopharma Inc (NASDAQ:ARRY) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 124,329 shares of the biopharmaceutical company’s stock, valued at approximately $1,890,000. Man Group plc owned 0.06% of Array Biopharma as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of ARRY. FMR LLC raised its holdings in Array Biopharma by 11.1% during the third quarter. FMR LLC now owns 27,101,636 shares of the biopharmaceutical company’s stock valued at $411,945,000 after acquiring an additional 2,711,240 shares during the period. Morgan Stanley raised its holdings in Array Biopharma by 127.7% during the second quarter. Morgan Stanley now owns 3,578,476 shares of the biopharmaceutical company’s stock valued at $60,048,000 after acquiring an additional 2,006,894 shares during the period. Peregrine Capital Management LLC bought a new stake in Array Biopharma during the third quarter valued at about $17,000,000. BlackRock Inc. raised its holdings in Array Biopharma by 6.1% during the second quarter. BlackRock Inc. now owns 16,919,696 shares of the biopharmaceutical company’s stock valued at $283,912,000 after acquiring an additional 970,259 shares during the period. Finally, Voya Investment Management LLC increased its holdings in shares of Array Biopharma by 84.1% in the second quarter. Voya Investment Management LLC now owns 1,999,490 shares of the biopharmaceutical company’s stock worth $33,551,000 after purchasing an additional 913,479 shares during the last quarter. 94.88% of the stock is currently owned by institutional investors and hedge funds.

In related news, Director Carrie Smith Cox acquired 3,000 shares of Array Biopharma stock in a transaction on Thursday, November 1st. The shares were bought at an average cost of $16.87 per share, with a total value of $50,610.00. Following the completion of the purchase, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $50,610. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Victor Sandor sold 6,268 shares of the business’s stock in a transaction that occurred on Thursday, December 27th. The stock was sold at an average price of $14.05, for a total value of $88,065.40. The disclosure for this sale can be found here. Insiders have sold 127,721 shares of company stock worth $2,043,280 over the last three months. 2.10% of the stock is currently owned by insiders.



ARRY has been the topic of several research reports. Cowen set a $22.00 target price on Array Biopharma and gave the stock a “buy” rating in a report on Sunday, October 7th. Goldman Sachs Group initiated coverage on Array Biopharma in a report on Thursday, December 13th. They issued a “neutral” rating and a $20.00 target price on the stock. Zacks Investment Research raised Array Biopharma from a “sell” rating to a “hold” rating in a report on Wednesday, October 31st. Guggenheim initiated coverage on Array Biopharma in a report on Monday, September 17th. They issued a “buy” rating on the stock. Finally, BidaskClub raised Array Biopharma from a “strong sell” rating to a “sell” rating in a report on Thursday, October 18th. One equities research analyst has rated the stock with a hold rating, nine have given a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $23.67.

Shares of NASDAQ ARRY opened at $17.71 on Friday. The company has a current ratio of 5.62, a quick ratio of 5.62 and a debt-to-equity ratio of 0.60. Array Biopharma Inc has a 1-year low of $12.56 and a 1-year high of $20.21. The company has a market cap of $3.68 billion, a price-to-earnings ratio of -24.26 and a beta of 1.17.

Array Biopharma (NASDAQ:ARRY) last issued its quarterly earnings data on Tuesday, October 30th. The biopharmaceutical company reported ($0.12) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.22) by $0.10. Array Biopharma had a negative return on equity of 74.02% and a negative net margin of 66.77%. The company had revenue of $56.91 million for the quarter, compared to analysts’ expectations of $34.47 million. During the same period in the previous year, the firm posted ($0.22) earnings per share. The firm’s revenue for the quarter was up 91.3% on a year-over-year basis. As a group, analysts predict that Array Biopharma Inc will post -0.65 EPS for the current fiscal year.

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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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