Douglas Hunt Sells 5,014 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) insider Douglas Hunt sold 5,014 shares of the firm’s stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total value of $29,482.32. Following the completion of the sale, the insider directly owned 155,907 shares of the company’s stock, valued at $916,733.16. This trade represents a 3.12% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Puma Biotechnology Price Performance

Shares of PBYI traded up $0.11 during mid-day trading on Thursday, reaching $6.20. The stock had a trading volume of 374,316 shares, compared to its average volume of 344,360. Puma Biotechnology, Inc. has a 52-week low of $2.58 and a 52-week high of $6.29. The firm has a market cap of $312.42 million, a price-to-earnings ratio of 8.38 and a beta of 1.19. The business’s fifty day moving average is $5.42 and its 200 day moving average is $4.77.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results 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 for the quarter, compared to analyst estimates of $51.00 million. Puma Biotechnology had a return on equity of 36.17% and a net margin of 17.45%. As a group, sell-side analysts anticipate that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Puma Biotechnology

Several hedge funds and other institutional investors have recently modified their holdings of PBYI. Acorn Capital Advisors LLC lifted its stake in Puma Biotechnology by 4.9% during the second quarter. Acorn Capital Advisors LLC now owns 4,131,299 shares of the biopharmaceutical company’s stock worth $14,170,000 after purchasing an additional 191,247 shares during the last quarter. Acadian Asset Management LLC raised its stake in Puma Biotechnology by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,008,146 shares of the biopharmaceutical company’s stock valued at $5,940,000 after acquiring an additional 36,018 shares in the last quarter. American Century Companies Inc. lifted its holdings in Puma Biotechnology by 16.8% in the second quarter. American Century Companies Inc. now owns 1,342,275 shares of the biopharmaceutical company’s stock worth $4,604,000 after purchasing an additional 192,615 shares during the period. Dimensional Fund Advisors LP raised its holdings in Puma Biotechnology by 10.6% during the third quarter. Dimensional Fund Advisors LP now owns 1,271,878 shares of the biopharmaceutical company’s stock worth $6,752,000 after purchasing an additional 121,838 shares in the last quarter. Finally, Kennedy Capital Management LLC boosted its stake in Puma Biotechnology by 8.3% during the second quarter. Kennedy Capital Management LLC now owns 987,001 shares of the biopharmaceutical company’s stock valued at $3,385,000 after buying an additional 75,878 shares in the last quarter. Institutional investors own 61.29% of the company’s stock.

About Puma Biotechnology

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.