Array BioPharma Inc. (NASDAQ:ARRY) Traded Under Its 50 Day Average

0
58

It is trading at $10.74 which is marginally lower than the 50 day moving average which is $11.49 and which is quite a bit higher than the 200 day moving average of $9.12. The 50 day moving average was down $-0.75 and the 200 day average moved up $1.62. Array BioPharma Inc. shares had a trading volume of 1,791K by the end of trading on Tuesday. Volume was down 38.87% under the stocks average daily volume.

Investors are a little more bullish on Array BioPharma Inc. of late if you consider the motion in short interest. The stock saw a fall in short interest between September 15, 2017 and September 29, 2017 of -18.57%. Short shares decreased 5,331,488 over that timeframe. With short interest at 23,385,574 and short average daily volume at 4,448,232, the short-interest ratio is 5.0 and the short interest percentage is 0.14% as of September 29.

Additionally, here are a few investment firms who have increased or decreased their stake in (ARRY). Cutler Group LP trimmed its holdings by selling 34,562 shares a decrease of 100.0% in the quarter. Cutler Group LP owns 17 shares with a value of $0. The total value of its holdings decreased 100.0%. Seven Eight Capital, LLC added to its ownership by buying 9,400 shares an increase of 552.9% as of 09/30/2017. Seven Eight Capital, LLC now holds 11,100 shares valued at $137,000. The value of the position overall is up by 878.6%.

Creative Planning divested its investment by shedding 3,300 shares a decrease of 12.8% from 06/30/2017 to 09/30/2017. Creative Planning claims 22,500 shares worth $277,000. The total value of its holdings increased 28.2%. Rhenman & Partners Asset Management Ab bolstered its stake by buying 225,000 shares an increase of 52.9%. Rhenman & Partners Asset Management Ab controls 650,000 shares with a value of $7,995,000. The total value of its holdings increased 124.8%.

September 11 investment analysts at Cantor Fitzgerald made no change to the stock rating of “Overweight” but raised the price target from $9.00 to $15.00.

As of the latest earnings report the EPS was $-0.72 and is estimated to be $-0.99 for the current year with 171,442,000 shares presently outstanding. Next quarter’s EPS is forecasted at $-0.23 with next year’s EPS anticipated to be $-0.39.

Array BioPharma Inc. (Array), launched on February 6, 1998, is a biopharmaceutical company focused on the discovery, development and commercialization of targeted small molecule drugs to treat patients afflicted with cancer. The Company has approximately five registration studies that are advancing. Its 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..

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.