Puma Biotechnology (NASDAQ:PBYI) Director Jay Moyes Sells 22,000 Shares

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Jay Moyes sold 22,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $7.22, for a total transaction of $158,840.00. Following the transaction, the director directly owned 58,322 shares in the company, valued at $421,084.84. This trade represents a 27.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Price Performance

PBYI stock opened at $7.07 on Tuesday. The stock has a market capitalization of $359.86 million, a PE ratio of 14.73 and a beta of 1.21. The company’s 50-day moving average is $7.23 and its 200-day moving average is $6.57. Puma Biotechnology, Inc. has a 1 year low of $3.03 and a 1 year high of $7.90.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. The company had revenue of $44.81 million for the quarter, compared to analysts’ expectations of $42.00 million. Puma Biotechnology had a net margin of 10.69% and a return on equity of 20.30%. On average, analysts anticipate that Puma Biotechnology, Inc. will post 0.28 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC raised its holdings in shares of Puma Biotechnology by 1.9% in the 4th quarter. Barclays PLC now owns 81,434 shares of the biopharmaceutical company’s stock worth $485,000 after acquiring an additional 1,553 shares during the last quarter. Cerity Partners LLC raised its holdings in shares of Puma Biotechnology by 18.2% in the 4th quarter. Cerity Partners LLC now owns 12,072 shares of the biopharmaceutical company’s stock worth $72,000 after acquiring an additional 1,862 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of Puma Biotechnology by 39.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock worth $43,000 after acquiring an additional 2,290 shares during the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Puma Biotechnology by 9.8% in the 1st quarter. Kathmere Capital Management LLC now owns 29,779 shares of the biopharmaceutical company’s stock worth $190,000 after acquiring an additional 2,648 shares during the last quarter. Finally, Baron Wealth Management LLC raised its holdings in shares of Puma Biotechnology by 8.2% in the 1st quarter. Baron Wealth Management LLC now owns 38,278 shares of the biopharmaceutical company’s stock worth $245,000 after acquiring an additional 2,886 shares during the last quarter. Institutional investors and hedge funds own 61.29% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PBYI shares. Wall Street Zen cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings cut shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Puma Biotechnology currently has a consensus rating of “Hold”.

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.