Array Biopharma Inc (NASDAQ:ARRY) has experienced a decrease in support from the world's most elite money managers in recent months.
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Consequently, let's take a peek at the latest action regarding Array Biopharma Inc (NASDAQ:ARRY).
At year's end, a total of 15 of the hedge funds we track were bullish in this stock, a change of -25% from one quarter earlier. With hedgies' capital changing hands, there exists a few key hedge fund managers who were increasing their holdings substantially.
According to our comprehensive database, Deerfield Management, managed by James E. Flynn, holds the largest position in Array Biopharma Inc (NASDAQ:ARRY). Deerfield Management has a $42 million position in the stock, comprising 2.3% of its 13F portfolio. On Deerfield Management's heels is Samuel Isaly of OrbiMed Advisors, with a $16 million position; the fund has 0.5% of its 13F portfolio invested in the stock. Other hedge funds that are bullish include Daniel Gold's QVT Financial, Thomas E. Claugus's GMT Capital and Julian Baker and Felix Baker's Baker Bros. Advisors.
Judging by the fact that Array Biopharma Inc (NASDAQ:ARRY) has experienced a declination in interest from hedge fund managers, it's safe to say that there lies a certain "tier" of hedgies that decided to sell off their positions entirely at the end of the year. Interestingly, Wayne Holman's Ridgeback Capital Management dumped the largest position of all the hedgies we track, totaling close to $11 million in stock.. JΘr⌠me Pfund and Michael Sj÷str÷m's fund, Sectoral Asset Management, also dumped its stock, about $9 million worth. These bearish behaviors are important to note, as aggregate hedge fund interest dropped by 5 funds at the end of the year.
Insider buying is at its handiest when the company in question has experienced transactions within the past six months. Over the last half-year time period, Array Biopharma Inc (NASDAQ:ARRY) has seen zero unique insiders purchasing, and 1 insider sales (see the details of insider trades here).
With the results demonstrated by the aforementioned strategies, everyday investors should always pay attention to hedge fund and insider trading activity, and Array Biopharma Inc (NASDAQ:ARRY) shareholders fit into this picture quite nicely.
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