Array BioPharma (NASDAQ:ARRY) stated gains of 1,693,447 shares or 9.4% in the short interest. The short interest registered from 17,934,915 on May 31,2016 to 19,628,362 on June 15,2016. In terms of floated shares, the shorted positions stood at 13.9%. The stock has been averaging 3,424,070 shares daily in trading and would need 6 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Array BioPharma (NASDAQ:ARRY): The stock opened at $3.35 on Friday but the bulls could not build on the opening and the stock topped out at $3.51 for the day. The stock traded down to $3.30 during the day, due to lack of any buying support eventually closed down at $3.45 with a loss of -3.63% for the day. The stock had closed at $3.58 on the previous day. The total traded volume was 4,640,193 shares.
The company shares have dropped -51.13% from its 1 Year high price. On Jun 29, 2015, the shares registered one year high at $7.42 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $3.33 and the 200 Day Moving Average price is recorded at $3.25.
Stocks of Array BioPharma (NASDAQ:ARRY) rallied by 6.15% during the past week but lost 4.17% on a 4-week basis. The company has outperformed the S&P 500 by 7.92% in the past week but underperformed the index by 1.27% in the last 4 weeks.
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 Companys 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.