Shares of Array BioPharma (ARRY) Sees Large Inflow of Net Money Flow

Array BioPharma (ARRY) : The money flow analysis of Array BioPharma (ARRY) indicates a $34.23 million of outflow was on downticks, whereas, the investors on Wednesday gobbled up stocks worth $36.19 million on upticks. The ratio between the upticks and downticks was clearly in favor of the bulls at 1.06 and so was the total money flow at $1.96 million. A solid up-down ratio of 1.32 in block trades indicates that the investors are accumulating the stock on weakness. The bulls lapped up $5.52 million worth of block trades on upticks. Only $4.19 million worth of the stock exchanged hands on downticks. The money flow was $1.33 million in block trades, underlining the interest of the bulls in the stock even when the stock was declining.However, the price action shows that the bears had an upper hand in the stock of Array BioPharma (ARRY), pushing it down by -4.78% for the day. The stock slid $0.32 and traded at $6.28 during the day. Nonetheless, the stock is 71.92% over the previous weeks close.

Array

Shares of Array BioPharma Inc. rose by 74.93% in the last five trading days and 82.56% for the last 4 weeks. Array BioPharma Inc. is up 79.94% in the last 3-month period. Year-to-Date the stock performance stands at 48.82%.

Array BioPharma (ARRY) has an average broker rating of 1, which is interpreted as a Strong Buy, as rated by 7 equity analysts. Nonetheless, 7 analysts are positive on the stocks future and they recommend a Strong Buy on the stock. Ranking by Zacks Investment Research for Coach Inc is 3, which is also a Hold.

Array BioPharma (NASDAQ:ARRY): stock was range-bound between the intraday low of $6.18 and the intraday high of $6.95 after having opened at $6.52 on Wednesdays session. The stock finally closed in the red at $6.52, a loss of -4.70%. The stock remained in the red for the whole trading day. The total traded volume was 29,967,153 shares. The stock failed to cross $6.95 in Wednesdays trading. The stocks closing price on Thursday was $6.59.

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.

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