Connor Clark & Lunn Investment Management Ltd. Acquires New Holdings in Puma Biotechnology, Inc. $PBYI

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Puma Biotechnology, Inc. (NASDAQ:PBYI) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 642,946 shares of the biopharmaceutical company’s stock, valued at approximately $5,214,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.25% of Puma Biotechnology as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Puma Biotechnology in the second quarter valued at approximately $30,856,000. Dimensional Fund Advisors LP raised its holdings in Puma Biotechnology by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,436,106 shares of the biopharmaceutical company’s stock worth $9,175,000 after acquiring an additional 96,503 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Puma Biotechnology by 35.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,120,329 shares of the biopharmaceutical company’s stock worth $6,666,000 after acquiring an additional 292,108 shares in the last quarter. Geode Capital Management LLC boosted its position in Puma Biotechnology by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 994,345 shares of the biopharmaceutical company’s stock valued at $5,917,000 after purchasing an additional 10,823 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its stake in Puma Biotechnology by 4,823,365.0% in the third quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock valued at $5,123,000 after purchasing an additional 964,673 shares in the last quarter. 61.29% of the stock is currently owned by institutional investors.

Insider Activity at Puma Biotechnology

In related news, insider Douglas M. Hunt sold 8,460 shares of the business’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $8.26, for a total value of $69,879.60. Following the completion of the transaction, the insider owned 196,841 shares of the company’s stock, valued at $1,625,906.66. The trade was a 4.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Adrian Senderowicz sold 27,000 shares of the business’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $7.20, for a total value of $194,400.00. Following the completion of the transaction, the director directly owned 27,000 shares of the company’s stock, valued at approximately $194,400. This trade represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 132,028 shares of company stock worth $1,006,711 in the last quarter. 22.20% of the stock is currently owned by corporate insiders.

Puma Biotechnology Stock Up 0.9%

Shares of NASDAQ:PBYI opened at $9.24 on Friday. Puma Biotechnology, Inc. has a 12-month low of $4.30 and a 12-month high of $9.51. The company’s 50 day moving average price is $8.34 and its two-hundred day moving average price is $7.42. The firm has a market cap of $476.97 million, a PE ratio of 17.77 and a beta of 1.22.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $0.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.04 by $0.15. The business had revenue of $56.50 million for the quarter, compared to the consensus estimate of $53.00 million. Puma Biotechnology had a return on equity of 20.76% and a net margin of 11.50%. On average, research analysts expect that Puma Biotechnology, Inc. will post 0.31 EPS for the current year.

Analyst Ratings Changes

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

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.