Artal Group S.a. buys $13,661,100 stake in Array Biopharma Inc (ARRY)

Array Biopharma Inc (ARRY) : Artal Group S.a. scooped up 160,000 additional shares in Array Biopharma Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 11, 2016. The investment management firm now holds a total of 3,870,000 shares of Array Biopharma Inc which is valued at $13,661,100.Array Biopharma Inc makes up approximately 0.28% of Artal Group S.a.’s portfolio.

Other Hedge Funds, Including , Tiaa Cref Investment Management boosted its stake in ARRY in the latest quarter, The investment management firm added 17,866 additional shares and now holds a total of 671,157 shares of Array Biopharma Inc which is valued at $2,369,184.Blackrock Group Ltd reduced its stake in ARRY by selling 36,941 shares or 41.65% in the most recent quarter. The Hedge Fund company now holds 51,760 shares of ARRY which is valued at $182,713.Airain Ltd reduced its stake in ARRY by selling 42,087 shares or 31.45% in the most recent quarter. The Hedge Fund company now holds 91,754 shares of ARRY which is valued at $416,563. Array Biopharma Inc makes up approx 0.02% of Airain Ltd’s portfolio.Glenmede Trust Co Na reduced its stake in ARRY by selling 500 shares or 35.71% in the most recent quarter. The Hedge Fund company now holds 900 shares of ARRY which is valued at $4,086. Quantitative Investment Management sold out all of its stake in ARRY during the most recent quarter. The investment firm sold 16,000 shares of ARRY which is valued $65,600.

Array Biopharma Inc closed down -0.07 points or -2.03% at $3.38 with 15,90,035 shares getting traded on Tuesday. Post opening the session at $3.46, the shares hit an intraday low of $3.38 and an intraday high of $3.49 and the price fluctuated in this range throughout the day.Shares ended Tuesday session in Red.

On the company’s financial health, Array Biopharma Inc reported $-0.17 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Aug 4, 2016. Analyst had a consensus of $-0.19. The company had revenue of $43.20 million for the quarter, compared to analysts expectations of $41.70 million. The company’s revenue was up 251.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.09 EPS.

Array BioPharma Inc. is a biopharmaceutical company focused on the discovery development and commercialization of small molecule drugs to treat patients afflicted with cancer. The Company’s wholly owned clinical stage drugs include Filanesib in Phase II clinical trials is indicated for Kinesin spindle protein (KSP) inhibitor for MM; ARRY-797 in Phase II clinical trials indicated for p38 inhibitor for Lamin A/C-related dilated cardiomyopathy (LMNA-DCM); ARRY-502 in Phase II clinical trials indicated for CRTh2 antagonist for asthma and ARRY-614 in Phase I clinical trials is indicated for p38/Tie2 dual inhibitor for myelodysplastic syndromes (MDS). In addition the Company has 11 ongoing partner-funded clinical programs including two MEK inhibitors which are both in Phase III clinical trials binimetinib with Novartis and selumetinib with AstraZeneca.

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