Virtus ETF Advisers LLC Lowers Position in Array Biopharma Inc (NASDAQ:ARRY)

Virtus ETF Advisers LLC lowered its holdings in Array Biopharma Inc (NASDAQ:ARRY) by 44.1% during the 2nd quarter, HoldingsChannel.com reports. The fund 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 reporting period.

Other large investors have also added to or reduced their stakes in the company. Honkamp Krueger Financial Services Inc. purchased a new stake in shares of Array Biopharma in the 2nd quarter valued at about $297,000. Federated Investors Inc. PA raised its holdings in shares of Array Biopharma by 54,037.6% in the 1st quarter. Federated Investors Inc. PA now owns 563,031 shares of the biopharmaceutical company’s stock valued at $13,726,000 after acquiring an additional 561,991 shares in the last quarter. Fiera Capital Corp raised its holdings in shares of Array Biopharma by 30.9% in the 1st quarter. Fiera Capital Corp now owns 1,843,220 shares of the biopharmaceutical company’s stock valued at $44,938,000 after acquiring an additional 435,147 shares in the last quarter. Chicago Capital Management LLC purchased a new stake in shares of Array Biopharma in the 2nd quarter valued at about $8,224,000. Finally, CIBC Asset Management Inc purchased a new stake in shares of Array Biopharma in the 2nd quarter valued at about $345,000.

ARRY has been the topic of several recent analyst reports. JPMorgan Chase & Co. cut Array Biopharma from an “overweight” rating to a “neutral” rating and raised their price target for the company from $29.00 to $48.00 in a report on Friday, July 12th. Cowen reaffirmed a “buy” rating and issued a $25.00 price target on shares of Array Biopharma in a report on Monday, June 17th. BidaskClub raised Array Biopharma from a “hold” rating to a “buy” rating in a report on Wednesday, July 31st. Jefferies Financial Group cut Array Biopharma from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Finally, SunTrust Banks cut Array Biopharma from a “buy” rating to a “hold” rating in a report on Monday, June 17th. Nine equities 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 hours on Friday. The company had a trading volume of 206,500 shares, compared to its average volume of 4,985,577. The stock has a market cap of $10.68 billion, a P/E ratio of -65.55 and a beta of 1.70. The company has a debt-to-equity ratio of 0.45, a current ratio of 5.70 and a quick ratio of 5.65. Array Biopharma Inc has a 52 week low of $12.56 and a 52 week high of $47.98. The business’s 50-day moving average is $47.79 and its 200-day moving average is $34.26.

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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