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What’s Next for Array Biopharma Inc (NASDAQ:ARRY) After Having More Shares Shorted?

Array BioPharma Inc. (NASDAQ:ARRY) Logo

Investors sentiment decreased to 1.12 in 2018 Q2. Its down 0.62, from 1.74 in 2018Q1. It dropped, as 33 investors sold Array BioPharma Inc. shares while 57 reduced holdings. 29 funds opened positions while 72 raised stakes. 190.66 million shares or 0.50% more from 189.71 million shares in 2018Q1 were reported.
Ontario Teachers Pension Plan Board reported 23,800 shares. Massachusetts-based Panagora Asset Management Inc has invested 0.08% in Array BioPharma Inc. (NASDAQ:ARRY). Ajo L P reported 77,813 shares. Bb&T Secs Lc holds 0.03% in Array BioPharma Inc. (NASDAQ:ARRY) or 191,800 shares. San Francisco Sentry Grp (Ca) owns 525 shares. Voya Invest Management Ltd Co invested 0.07% in Array BioPharma Inc. (NASDAQ:ARRY). Manufacturers Life Insur Communication The holds 150,358 shares or 0% of its portfolio. Pnc Fincl Svcs Incorporated stated it has 0% of its portfolio in Array BioPharma Inc. (NASDAQ:ARRY). Sg Americas Securities Limited Co holds 0% or 10,973 shares. Axa accumulated 461,486 shares or 0.03% of the stock. Prudential Fincl has invested 0% in Array BioPharma Inc. (NASDAQ:ARRY). Geode Management Ltd Liability holds 0.01% of its portfolio in Array BioPharma Inc. (NASDAQ:ARRY) for 2.18M shares. Proshare Limited Liability Company accumulated 115,378 shares. Bluemountain Management Ltd Limited Liability Company stated it has 148,399 shares or 0.05% of all its holdings. Quantbot L P holds 0.02% in Array BioPharma Inc. (NASDAQ:ARRY) or 16,309 shares.

Since May 16, 2018, it had 0 insider purchases, and 12 insider sales for $8.47 million activity. On Wednesday, May 16 the insider VAN LUNSEN GIL J sold $330,259. Robbins Andrew R sold $318,681 worth of Array BioPharma Inc. (NASDAQ:ARRY) on Wednesday, June 27. 184,253 shares were sold by Squarer Ron, worth $3.31M. The insider LEFKOFF KYLE sold 50,000 shares worth $872,500. On Wednesday, August 15 the insider Haddock Jason sold $278,400.

The stock of Array Biopharma Inc (NASDAQ:ARRY) registered an increase of 8.25% in short interest. ARRY’s total short interest was 14.63 million shares in November as published by FINRA. Its up 8.25% from 13.51M shares, reported previously. With 2.24M shares average volume, it will take short sellers 7 days to cover their ARRY’s short positions.

The stock decreased 3.63% or $0.63 during the last trading session, reaching $16.73. About 2.23 million shares traded. Array BioPharma Inc. (NASDAQ:ARRY) has risen 38.92% since November 10, 2017 and is uptrending. It has outperformed by 23.30% the S&P500.

Array BioPharma Inc., a biopharmaceutical company, focuses on the discovery, development, and commercialization of small molecule drugs to treat patients with cancer in North America, Europe, and the Asia Pacific. The company has market cap of $3.57 billion. The companyÂ’s drugs in Phase III clinical trials include Binimetinib, Encorafenib, Selumetinib, and Ipatasertib/GDC-0068 for the treatment of cancer, as well as ASC08/Danoprevir to treat hepatitis C virus. It currently has negative earnings. The Company’s drug candidates in Phase II/registration trials comprise Larotrectinib/LOXO-101, a PanTrk inhibitor for cancer; Tucatinib/ONT-380, a HER2 inhibitor for breast cancer; and Varlitinib/ASLAN001, a Pan-HER2 inhibitor for gastric or breast cancer.

Array BioPharma Inc. (NASDAQ:ARRY) Ratings Coverage

Among 4 analysts covering Array Biopharma (NASDAQ:ARRY), 4 have Buy rating, 0 Sell and 0 Hold. Therefore 100% are positive. Array Biopharma has $33 highest and $1900 lowest target. $24.75’s average target is 47.94% above currents $16.73 stock price. Array Biopharma had 4 analyst reports since June 5, 2018 according to SRatingsIntel. The rating was maintained by Cowen & Co with “Buy” on Tuesday, June 5. As per Monday, June 25, the company rating was maintained by Cantor Fitzgerald. Wells Fargo maintained the shares of ARRY in report on Thursday, June 28 with “Outperform” rating. On Monday, June 25 the stock rating was maintained by Piper Jaffray with “Buy”.

Another recent and important Array BioPharma Inc. (NASDAQ:ARRY) news was published by Nasdaq.com which published an article titled: “Analysis: Positioning to Benefit within Array BioPharma, SPX FLOW, Holly Energy Partners, Electro Scientific Industries …” on November 02, 2018.

Array BioPharma Inc. (NASDAQ:ARRY) Ratings Chart

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