Insider Selling: Array Biopharma Inc (ARRY) General Counsel Sells 40,000 Shares of Stock

Array Biopharma Inc (NASDAQ:ARRY) General Counsel Curtis Gale Oltmans sold 40,000 shares of Array Biopharma stock in a transaction on Tuesday, February 5th. The stock was sold at an average price of $20.00, for a total value of $800,000.00. Following the transaction, the general counsel now directly owns 15,021 shares of the company’s stock, valued at approximately $300,420. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Curtis Gale Oltmans also recently made the following trade(s):

  • On Friday, January 25th, Curtis Gale Oltmans sold 14,029 shares of Array Biopharma stock. The stock was sold at an average price of $18.00, for a total value of $252,522.00.
  • On Friday, January 18th, Curtis Gale Oltmans sold 1,251 shares of Array Biopharma stock. The stock was sold at an average price of $18.00, for a total value of $22,518.00.
  • On Tuesday, January 15th, Curtis Gale Oltmans sold 19,720 shares of Array Biopharma stock. The stock was sold at an average price of $18.06, for a total value of $356,143.20.

Shares of ARRY stock opened at $21.81 on Friday. Array Biopharma Inc has a twelve month low of $12.56 and a twelve month high of $22.80. The company has a debt-to-equity ratio of 0.46, a quick ratio of 5.62 and a current ratio of 6.31.



Array Biopharma (NASDAQ:ARRY) last announced its earnings results on Tuesday, February 5th. The biopharmaceutical company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.11. Array Biopharma had a negative net margin of 46.20% and a negative return on equity of 44.37%. The firm had revenue of $82.55 million during the quarter, compared to the consensus estimate of $52.44 million. During the same quarter in the previous year, the company posted ($0.17) EPS. The firm’s revenue for the quarter was up 95.5% on a year-over-year basis. On average, equities research analysts predict that Array Biopharma Inc will post -0.6 EPS for the current fiscal year.

Several research analysts have recently issued reports on ARRY shares. BidaskClub raised Array Biopharma from a “hold” rating to a “buy” rating in a research note on Wednesday, January 9th. Cowen set a $22.00 price target on Array Biopharma and gave the stock a “buy” rating in a research note on Wednesday, October 31st. Stifel Nicolaus lifted their price target on Array Biopharma from $24.00 to $26.00 and gave the stock a “buy” rating in a research note on Wednesday, December 12th. Zacks Investment Research raised Array Biopharma from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a research note on Wednesday, January 23rd. Finally, Cantor Fitzgerald set a $30.00 price target on Array Biopharma and gave the stock a “buy” rating in a research note on Tuesday, February 5th. One investment analyst has rated the stock with a hold rating, nine have assigned a buy rating and two have given a strong buy rating to the stock. Array Biopharma presently has a consensus rating of “Buy” and an average target price of $25.89.

A number of hedge funds have recently made changes to their positions in the stock. FMR LLC raised its stake in Array Biopharma by 11.1% in the 3rd quarter. FMR LLC now owns 27,101,636 shares of the biopharmaceutical company’s stock valued at $411,945,000 after purchasing an additional 2,711,240 shares during the last quarter. BlackRock Inc. grew its holdings in Array Biopharma by 1.2% in the 3rd quarter. BlackRock Inc. now owns 17,121,252 shares of the biopharmaceutical company’s stock valued at $260,243,000 after buying an additional 201,556 shares during the period. American Century Companies Inc. grew its holdings in Array Biopharma by 19.4% in the 3rd quarter. American Century Companies Inc. now owns 3,116,886 shares of the biopharmaceutical company’s stock valued at $47,377,000 after buying an additional 506,146 shares during the period. Northern Trust Corp grew its holdings in Array Biopharma by 4.4% in the 2nd quarter. Northern Trust Corp now owns 2,524,664 shares of the biopharmaceutical company’s stock valued at $42,364,000 after buying an additional 105,314 shares during the period. Finally, Wells Fargo & Company MN grew its holdings in Array Biopharma by 13.4% in the 3rd quarter. Wells Fargo & Company MN now owns 2,484,662 shares of the biopharmaceutical company’s stock valued at $37,766,000 after buying an additional 292,749 shares during the period. 94.99% of the stock is owned by hedge funds and other institutional investors.

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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.

See Also: Systematic Risk

Insider Buying and Selling by Quarter for Array Biopharma (NASDAQ:ARRY)

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