Short Interest Change: Could Array Biopharma Incorporated (NASDAQ:ARRY) Go Down After Its Newest Short Interest Report?

November 24, 2016 - By Peter Erickson   ·   0 Comments

Short Interest Change: Could Array Biopharma Incorporated (NASDAQ:ARRY) Go Down After Its Newest Short Interest Report?

The stock of Array Biopharma Incorporated (NASDAQ:ARRY) registered a decrease of 2.7% in short interest. ARRY’s total short interest was 15.56M shares in November as published by FINRA. Its down 2.7% from 15.99 million shares, reported previously. With 3.59 million shares average volume, it will take short sellers 4 days to cover their ARRY’s short positions. The short interest to Array Biopharma Incorporated’s float is 13.82%. The stock increased 1.60% or $0.12 on November 23, hitting $7.92. About 2.35 million shares traded hands. Array Biopharma Inc (NASDAQ:ARRY) has risen 143.69% since April 22, 2016 and is uptrending. It has outperformed by 138.28% the S&P500.

Array BioPharma Inc. is a biopharmaceutical firm focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The company has a market cap of $1.29 billion. The Company’s programs include approximately three cancer drugs, binimetinib, encorafenib and selumetinib . It currently has negative earnings. The Company’s binimetinib and encorafenib are in Phase III trials in advanced cancer patients, including the COLUMBUS trial studying encorafenib in combination with binimetinib in patients with BRAF-mutant melanoma and has initiated BEACON CRC trial to study encorafenib in combination with binimetinib and cetuximab in patients with BRAF V600E-mutant colorectal cancer (BRAFm CRC).

Insitutional Activity: The institutional sentiment increased to 1.88 in Q2 2016. Its up 1.18, from 0.7 in 2016Q1. The ratio is positive, as 19 funds sold all Array Biopharma Inc shares owned while 42 reduced positions. 11 funds bought stakes while 32 increased positions. They now own 122.55 million shares or 5.45% less from 129.62 million shares in 2016Q1.
California Public Employees Retirement System has 0% invested in the company for 297,700 shares. The Ontario – Canada-based Bancorp Of Montreal Can has invested 0% in Array Biopharma Inc (NASDAQ:ARRY). Wells Fargo And Mn has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Sarissa Management Ltd Partnership last reported 4.35% of its portfolio in the stock. Jpmorgan Chase And accumulated 3,000 shares or 0% of the stock. Manufacturers Life Insurance The last reported 102,272 shares in the company. Art Advisors Ltd Co owns 266,988 shares or 0.05% of their US portfolio. National Bank Of Mellon owns 647,567 shares or 0% of their US portfolio. Tiaa Cref Inv Llc last reported 0% of its portfolio in the stock. Cornerstone Cap Mngmt Holdings Limited Company owns 139,800 shares or 0% of their US portfolio. Millennium Ltd Limited Liability Company last reported 1.85 million shares in the company. Inv Centers Of America Inc owns 35,995 shares or 0.02% of their US portfolio. Northern Tru last reported 0% of its portfolio in the stock. Columbus Circle has invested 0.02% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY). Principal Fincl Grp has invested 0% of its portfolio in Array Biopharma Inc (NASDAQ:ARRY).

Insider Transactions: Since September 28, 2016, the stock had 0 buys, and 1 sale for $15.85 million net activity. 2.49 million shares with value of $15.85 million were sold by Redmile Group – LLC on Wednesday, September 28.

Array Biopharma Inc (NASDAQ:ARRY) Ratings Coverage

Out of 6 analysts covering Array BioPharma (NASDAQ:ARRY), 6 rate it a “Buy”, 0 “Sell”, while 0 “Hold”. This means 100% are positive. Array BioPharma has been the topic of 6 analyst reports since June 3, 2016 according to StockzIntelligence Inc. Piper Jaffray maintained the shares of ARRY in a report on Monday, September 26 with “Overweight” rating. The firm has “Buy” rating by SunTrust given on Friday, June 3. The firm has “Outperform” rating by Leerink Swann given on Monday, September 26. Suntrust Robinson initiated the stock with “Buy” rating in Friday, June 3 report. The stock of Array Biopharma Inc (NASDAQ:ARRY) has “Buy” rating given on Monday, August 29 by Jefferies. Stifel Nicolaus maintained the shares of ARRY in a report on Friday, August 5 with “Buy” rating.

ARRY Company Profile

Array BioPharma Inc. (Array), incorporated on February 6, 1998, is a biopharmaceutical firm focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Firm has approximately five registration studies that are advancing. The Company’s programs include approximately three cancer drugs, binimetinib (MEK162), encorafenib (LGX818) and selumetinib (partnered with AstraZeneca). Binimetinib is a mitogen-activated protein kinase (MEK) inhibitor for cancer, which is in Phase III trial; encorafenib is a BRAF inhibitor for cancer, which is in Phase III trial, and selumetinib is a MEK inhibitor for cancer, which is in Phase III trial.

Another recent and important Array Biopharma Inc (NASDAQ:ARRY) news was published by Prnewswire.com which published an article titled: “Array BioPharma Reports Financial Results For The First Quarter Of Fiscal 2017” on November 01, 2016.

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By Peter Erickson


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