Why Sarepta, Glu Mobile, Harmony Gold and 2 Other Stocks Are On The Move Today

Array Biopharma Reaches Agreement with the FDA

Array Biopharma Inc (NASDAQ:ARRY)’s stock is narrowly in the red this morning after the company said that it had reached a Special Protocol Assessment agreement with the FDA regarding BEACON CRC, a global Phase 3 trial of encorafenib and Erbitux (cetuximab), with or without binimetinib. In a statement, Scott Kopetz, M.D, BEACON CRC investigator, said that BRAF-mutant CRC represents an unmet medical need as colorectal cancer is the third-most common cancer among men and women in the U.S. and there are no targeted treatment options available for it at this time. At the end of the second quarter, 17 funds tracked by us were bullish on Array Biopharma Inc (NASDAQ:ARRY).

Glu Mobile Acquires Poke Radar

After initially rising this morning, Glu Mobile Inc. (NASDAQ:GLUU)’s stock is now 3% in the red after the company announced its acquisition of Poke Radar, a community-driven app built by Pokemon GO enthusiasts to help players locate and catch Pokemon. According to the deal, Glu Mobile will pay $500,000 for Poke Radar and its associated assets. Glu Mobile’s CEO Niccolo de Masi said in a statement that the company is “thrilled” to welcome the Poke Radar team on board. At the end of the June quarter, a total of nine funds in our system held stakes in Glu Mobile Inc. (NASDAQ:GLUU).

Zacks Gives ‘Hold’ Rating to Harmony Gold Mining

Lastly we have Harmony Gold Mining Co. (ADR) (NYSE:HMY), which has gained around 3.39% so far today after investment firm Zacks upgraded the company to ‘Hold’ from ‘Sell’ on Tuesday. The firm said in a report that the estimates for the South Africa-based gold mining company have been stable lately, and that it is making progress with its Wafi-Golpu project along with its cost-cutting program. However, Zacks noted that Harmony Gold Mining is vulnerable to geopolitical risks, because of mine shut downs and labor strikes. Jim Simons’ Renaissance Technologies is a notable shareholder out of the 11 in our system that owned shares of Harmony Gold Mining Co. (ADR) (NYSE:HMY) at the end of the second quarter.

Disclosure: None