Wellington Management Group LLP Invests $1.02 Million in Puma Biotechnology, Inc. $PBYI

Wellington Management Group LLP bought a new position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 126,091 shares of the biopharmaceutical company’s stock, valued at approximately $1,023,000. Wellington Management Group LLP owned approximately 0.24% of Puma Biotechnology as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of PBYI. BlackRock Inc. acquired a new position in Puma Biotechnology during the second quarter valued at approximately $30,856,000. Dimensional Fund Advisors LP increased its position in shares of Puma Biotechnology by 7.2% in 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 stake in shares of Puma Biotechnology by 35.3% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,120,329 shares of the biopharmaceutical company’s stock valued at $6,666,000 after acquiring an additional 292,108 shares during the period. Geode Capital Management LLC raised its stake in shares of Puma Biotechnology by 1.1% in the 4th quarter. Geode Capital Management LLC now owns 994,345 shares of the biopharmaceutical company’s stock valued at $5,917,000 after acquiring an additional 10,823 shares during the period. Finally, Russell Investments Group Ltd. lifted its holdings in shares of Puma Biotechnology by 4,823,365.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock valued at $5,123,000 after acquiring an additional 964,673 shares in the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Insider Transactions at Puma Biotechnology

In related news, CEO Alan H. Auerbach sold 44,058 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 $363,919.08. Following the transaction, the chief executive officer owned 7,261,671 shares in the company, valued at approximately $59,981,402.46. The trade was a 0.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 in the company, valued at approximately $1,625,906.66. This trade represents a 4.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 22.20% of the company’s stock.

Analysts Set New Price Targets

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

Puma Biotechnology Stock Down 0.5%

PBYI opened at $9.12 on Friday. The firm’s 50 day moving average is $8.64 and its 200-day moving average is $7.61. Puma Biotechnology, Inc. has a 52-week low of $4.30 and a 52-week high of $9.73. The firm has a market capitalization of $470.77 million, a P/E ratio of 17.54 and a beta of 1.24.

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

Puma Biotechnology 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.