Federated Investors Inc. PA lowered its stake in shares of Puma Biotechnology Inc (NYSE:PBYI) by 92.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 11,316 shares of the biopharmaceutical company’s stock after selling 141,184 shares during the quarter. Federated Investors Inc. PA’s holdings in Puma Biotechnology were worth $989,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Strs Ohio acquired a new position in Puma Biotechnology during the 2nd quarter valued at about $122,000. Bank of Montreal Can acquired a new position in Puma Biotechnology during the 1st quarter valued at about $195,000. Alambic Investment Management L.P. acquired a new position in Puma Biotechnology during the 1st quarter valued at about $201,000. Teacher Retirement System of Texas acquired a new position in Puma Biotechnology during the 2nd quarter valued at about $211,000. Finally, Fox Run Management L.L.C. acquired a new position in Puma Biotechnology during the 2nd quarter valued at about $227,000. 80.98% of the stock is currently owned by hedge funds and other institutional investors.

PBYI has been the topic of a number of analyst reports. Citigroup Inc. upgraded shares of Puma Biotechnology to a “buy” rating and set a $105.00 price target on the stock in a research report on Sunday, May 28th. Royal Bank Of Canada increased their price target on shares of Puma Biotechnology from $40.00 to $60.00 and gave the company a “sector perform” rating in a research report on Thursday, May 25th. J P Morgan Chase & Co reiterated a “buy” rating on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $118.00 price target (up from $105.00) on shares of Puma Biotechnology in a research report on Tuesday, July 18th. Finally, Zacks Investment Research downgraded shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $110.70.

In other Puma Biotechnology news, insider Alan H. Auerbach sold 13,175 shares of the business’s stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $94.73, for a total value of $1,248,067.75. Following the transaction, the insider now directly owns 4,170,623 shares of the company’s stock, valued at $395,083,116.79. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Richard Paul Bryce sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $87.10, for a total value of $435,500.00. Following the completion of the transaction, the senior vice president now directly owns 34,237 shares in the company, valued at $2,982,042.70. The disclosure for this sale can be found here. Over the last three months, insiders sold 35,173 shares of company stock worth $3,373,689. Insiders own 22.70% of the company’s stock.

Shares of Puma Biotechnology Inc (PBYI) opened at 102.25 on Friday. The firm’s 50-day moving average is $89.54 and its 200 day moving average is $66.01. The firm’s market capitalization is $3.80 billion. Puma Biotechnology Inc has a one year low of $28.35 and a one year high of $109.85.

Puma Biotechnology (NYSE:PBYI) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.78). Equities research analysts predict that Puma Biotechnology Inc will post ($8.67) earnings per share for the current year.

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About Puma Biotechnology

Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

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Institutional Ownership by Quarter for Puma Biotechnology (NYSE:PBYI)

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