Is Array Biopharma Inc (ARRY) a Good Stock To Buy?

As aggregate interest increased, key money managers have been driving this bullishness. Fisher Asset Management, managed by Ken Fisher, assembled the most outsized position in Array Biopharma Inc (NASDAQ:ARRY). Fisher Asset Management had $0.6 million invested in the company at the end of the quarter. Chao Ku’s Nine Chapters Capital Management also made a $0.5 million investment in the stock during the quarter. The other funds with brand new ARRY positions are D. E. Shaw’s D E Shaw, Adam Usdan’s Trellus Management Company, and Paul Tudor Jones’s Tudor Investment Corp.

Let’s now review hedge fund activity in other stocks similar to Array Biopharma Inc (NASDAQ:ARRY). These stocks are William Lyon Homes (NYSE:WLH), Washington Trust Bancorp (NASDAQ:WASH), Mercer International Inc. (NASDAQ:MERC), and First Potomac Realty Trust (NYSE:FPO). This group of stocks’ market values are similar to ARRY’s market value.

As you can see these stocks had an average of 14 hedge funds with bullish positions and the average amount invested in these stocks was $144 million. That figure was $266 million in ARRY’s case. William Lyon Homes (NYSE:WLH) is the most popular stock in this table. On the other hand Washington Trust Bancorp (NASDAQ:WASH) is the least popular one with only 5 bullish hedge fund positions. Compared to these stocks Array Biopharma Inc (NASDAQ:ARRY) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.