Puma Biotechnology (NASDAQ:PBYI) Director Alessandra Cesano Sells 62,150 Shares

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Alessandra Cesano sold 62,150 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $9.12, for a total transaction of $566,808.00. Following the completion of the transaction, the director owned 56,700 shares in the company, valued at approximately $517,104. The trade was a 52.29% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Trading Up 1.5%

Shares of PBYI opened at $9.39 on Thursday. The firm’s fifty day simple moving average is $8.71 and its two-hundred day simple moving average is $7.65. Puma Biotechnology, Inc. has a 12 month low of $4.30 and a 12 month high of $9.73. The stock has a market capitalization of $484.71 million, a P/E ratio of 18.06 and a beta of 1.24.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported $0.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.04 by $0.15. Puma Biotechnology had a return on equity of 20.76% and a net margin of 11.50%.The company had revenue of $56.50 million for the quarter, compared to the consensus estimate of $53.00 million. As a group, research analysts predict that Puma Biotechnology, Inc. will post 0.37 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PBYI. Spark Investment Management LLC acquired a new stake in Puma Biotechnology in the second quarter valued at approximately $138,000. Wellington Management Group LLP acquired a new position in shares of Puma Biotechnology during the second quarter worth approximately $1,023,000. Empowered Funds LLC bought a new position in shares of Puma Biotechnology in the 2nd quarter worth $1,787,000. Philadelphia Investment Partners LLC bought a new position in shares of Puma Biotechnology in the 2nd quarter worth $65,000. Finally, Bank of America Corp DE acquired a new stake in Puma Biotechnology in the 2nd quarter valued at $257,000. 61.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PBYI has been the subject of several recent analyst reports. Weiss Ratings raised shares of Puma Biotechnology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. TD Cowen boosted their target price on shares of Puma Biotechnology from $5.00 to $6.00 and gave the company a “hold” rating in a research report on Friday, August 7th. Finally, Wall Street Zen raised shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, Puma Biotechnology presently has a consensus rating of “Hold” and an average price target of $6.00.

About Puma Biotechnology

Puma Biotechnology, Inc is a biopharmaceutical company focused on developing and commercializing medicines for the treatment of cancer. The company’s primary product is NERLYNX (neratinib), an oral tyrosine kinase inhibitor designed to target HER2 and other members of the human epidermal growth factor receptor family.

In the United States, NERLYNX is approved for the extended adjuvant treatment of adults with early-stage HER2-positive breast cancer following postoperative trastuzumab-based therapy.