Company Shares of Array BioPharma Drops by -7.41%

Array BioPharma (NASDAQ:ARRY) has tumbled 7.41% during the past week and has dropped 1.81% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 6.3%. Array BioPharma (NASDAQ:ARRY) has underperformed the index by 2.71% in the last 4 weeks. Investors should watch out for further signals and trade with caution.

Array BioPharma (NASDAQ:ARRY): The stock opened at $3.28 on Friday but the bulls could not build on the opening and the stock topped out at $3.31 for the day. The stock traded down to $3.23 during the day, due to lack of any buying support eventually closed down at $3.25 with a loss of -0.31% for the day. The stock had closed at $3.26 on the previous day. The total traded volume was 3,542,868 shares.

The company shares have dropped -59.02% from its 1 Year high price. On Jun 22, 2015, the shares registered one year high at $8.04 and the one year low was seen on Feb 11, 2016. The 50-Day Moving Average price is $3.29 and the 200 Day Moving Average price is recorded at $3.27.

On the companys insider trading activities,The director of Array Biopharma Inc, Baum Charles M sold 25,000 shares at $7.38 on May 8, 2015. The Insider selling transaction had a total value worth of $184,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Many analysts have stated their opinion on the company shares. SunTrust Robinson Humphrey initiates coverage on Array BioPharma (NASDAQ:ARRY) . Analysts at the SunTrust Robinson Humphrey have a current rating of Buy on the shares. The rating by the firm was issued on June 3, 2016. Currently the company Insiders own 0.17% of Array BioPharma shares according to the proxy statements. Institutional Investors own 90.99% of Array BioPharma shares.

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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