Ritholtz Wealth Management Raises Stake in Puma Biotechnology, Inc. $PBYI

Ritholtz Wealth Management lifted its holdings in Puma Biotechnology, Inc. (NASDAQ:PBYI) by 139.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 470,767 shares of the biopharmaceutical company’s stock after acquiring an additional 273,782 shares during the quarter. Ritholtz Wealth Management owned 0.93% of Puma Biotechnology worth $2,500,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PBYI. Kathmere Capital Management LLC boosted its holdings in Puma Biotechnology by 38.4% in the third quarter. Kathmere Capital Management LLC now owns 27,953 shares of the biopharmaceutical company’s stock valued at $148,000 after purchasing an additional 7,749 shares during the last quarter. Baron Wealth Management LLC acquired a new stake in shares of Puma Biotechnology during the 3rd quarter valued at about $116,000. Assenagon Asset Management S.A. acquired a new stake in Puma Biotechnology in the 3rd quarter worth about $388,000. Evergreen Capital Management LLC acquired a new position in shares of Puma Biotechnology during the 2nd quarter worth approximately $329,000. Finally, Bridgeway Capital Management LLC raised its holdings in shares of Puma Biotechnology by 150.0% during the 2nd quarter. Bridgeway Capital Management LLC now owns 202,790 shares of the biopharmaceutical company’s stock worth $696,000 after acquiring an additional 121,690 shares during the period. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings cut shares of Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $7.00.

Insider Transactions at Puma Biotechnology

In other news, insider Douglas M. Hunt sold 5,014 shares of the company’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total transaction of $29,482.32. Following the sale, the insider owned 155,907 shares of the company’s stock, valued at approximately $916,733.16. This represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael Patrick Miller sold 20,000 shares of the stock in a transaction on Tuesday, November 11th. The shares were sold at an average price of $4.86, for a total value of $97,200.00. Following the completion of the sale, the director owned 54,000 shares in the company, valued at approximately $262,440. The trade was a 27.03% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 63,937 shares of company stock valued at $354,713. 23.30% of the stock is currently owned by company insiders.

Puma Biotechnology Price Performance

Shares of NASDAQ:PBYI opened at $6.37 on Friday. The firm has a market capitalization of $320.99 million, a PE ratio of 8.61 and a beta of 1.19. Puma Biotechnology, Inc. has a 1 year low of $2.58 and a 1 year high of $6.48. The firm’s 50-day moving average is $5.56 and its two-hundred day moving average is $4.90.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.09 by $0.12. The business had revenue of $54.48 million during the quarter, compared to analyst estimates of $51.00 million. Puma Biotechnology had a net margin of 17.45% and a return on equity of 36.17%. Analysts expect that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.