Puma Biotechnology (NASDAQ:PBYI) CEO Alan Auerbach Sells 44,058 Shares

Puma Biotechnology, Inc. (NASDAQ:PBYI) CEO Alan Auerbach sold 44,058 shares of the stock in a transaction on Monday, July 6th. The stock was sold at an average price of $8.26, for a total transaction of $363,919.08. Following the sale, the chief executive officer directly owned 7,261,671 shares in the company, valued at $59,981,402.46. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Trading Up 2.1%

PBYI traded up $0.17 on Wednesday, reaching $8.13. The stock had a trading volume of 426,504 shares, compared to its average volume of 328,965. Puma Biotechnology, Inc. has a 12-month low of $3.03 and a 12-month high of $8.44. The business’s 50-day moving average price is $7.40 and its two-hundred day moving average price is $6.87. The company has a market cap of $413.82 million, a P/E ratio of 16.94 and a beta of 1.20.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.13) by $0.09. Puma Biotechnology had a net margin of 10.69% and a return on equity of 20.30%. The business had revenue of $44.81 million for the quarter, compared to analyst estimates of $42.00 million. As a group, analysts predict that Puma Biotechnology, Inc. will post 0.28 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have commented on PBYI shares. Wall Street Zen lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings downgraded Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Puma Biotechnology

Large investors have recently bought and sold shares of the company. Barclays PLC raised its holdings in shares of Puma Biotechnology by 1.9% during the fourth quarter. Barclays PLC now owns 81,434 shares of the biopharmaceutical company’s stock valued at $485,000 after acquiring an additional 1,553 shares during the last quarter. Cerity Partners LLC boosted its stake in shares of Puma Biotechnology by 18.2% in the fourth 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 increased its position in shares of Puma Biotechnology by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,290 shares in the last quarter. Kathmere Capital Management LLC raised its stake in Puma Biotechnology by 9.8% in the 1st quarter. Kathmere Capital Management LLC now owns 29,779 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Baron Wealth Management LLC raised its stake in Puma Biotechnology by 8.2% in the 1st quarter. Baron Wealth Management LLC now owns 38,278 shares of the biopharmaceutical company’s stock valued at $245,000 after purchasing an additional 2,886 shares during the last quarter. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

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.