Virtus ETF Advisers LLC Has $1.27 Million Stake in Array Biopharma Inc (NASDAQ:ARRY)

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Virtus ETF Advisers LLC decreased its holdings in shares of Array Biopharma Inc (NASDAQ:ARRY) by 44.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 27,357 shares of the biopharmaceutical company’s stock after selling 21,565 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Array Biopharma were worth $1,267,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of ARRY. Geode Capital Management LLC raised its stake in Array Biopharma by 7.5% during the fourth quarter. Geode Capital Management LLC now owns 2,494,726 shares of the biopharmaceutical company’s stock worth $35,549,000 after acquiring an additional 174,315 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of Array Biopharma by 3.3% during the first quarter. Rhumbline Advisers now owns 288,951 shares of the biopharmaceutical company’s stock worth $7,045,000 after purchasing an additional 9,293 shares during the last quarter. Cornerstone Advisors Inc. grew its holdings 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 purchasing an additional 615 shares during the last quarter. Frontier Capital Management Co. LLC bought a new stake in shares of Array Biopharma during the first quarter worth about $8,352,000. Finally, TD Asset Management Inc. grew its holdings in shares of Array Biopharma by 67.7% during the first quarter. TD Asset Management Inc. now owns 244,761 shares of the biopharmaceutical company’s stock worth $5,967,000 after purchasing an additional 98,812 shares during the last quarter.

Several research firms have recently weighed in on ARRY. Cowen restated a “buy” rating and set a $25.00 price target on shares of Array Biopharma in a report on Monday, June 17th. JPMorgan Chase & Co. cut Array Biopharma from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $29.00 to $48.00 in a report on Friday, July 12th. Svb Leerink cut Array Biopharma from an “outperform” rating to a “market perform” rating and boosted their price target for the stock from $32.00 to $48.00 in a report on Tuesday, June 18th. Cantor Fitzgerald cut Array Biopharma from an “overweight” rating to a “neutral” rating and boosted their price target for the stock from $34.00 to $48.00 in a report on Monday, July 8th. Finally, Jefferies Financial Group cut Array Biopharma from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Nine research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $37.13.

Shares of NASDAQ:ARRY remained flat at $$47.85 during trading on Friday. The stock had a trading volume of 206,500 shares, compared to its average volume of 4,985,577. The company has a debt-to-equity ratio of 0.45, a quick ratio of 5.65 and a current ratio of 5.70. Array Biopharma Inc has a one year low of $12.56 and a one year high of $47.98. The stock has a fifty day moving average price of $47.79 and a two-hundred day moving average price of $34.26. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of -65.55 and a beta of 1.70.

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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