Patriot Financial Group Insurance Agency LLC Sells 6,600 Shares of Puma Biotechnology, Inc. (NASDAQ:PBYI)

Patriot Financial Group Insurance Agency LLC lowered its position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) by 37.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,000 shares of the biopharmaceutical company’s stock after selling 6,600 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Puma Biotechnology were worth $36,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the company. Acadian Asset Management LLC increased its position in Puma Biotechnology by 2.0% during the first quarter. Acadian Asset Management LLC now owns 1,956,513 shares of the biopharmaceutical company’s stock worth $10,366,000 after acquiring an additional 39,239 shares during the period. Great Point Partners LLC bought a new position in shares of Puma Biotechnology in the fourth quarter worth about $4,734,000. Bank of New York Mellon Corp boosted its stake in shares of Puma Biotechnology by 63.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company’s stock valued at $1,007,000 after purchasing an additional 120,104 shares in the last quarter. Assenagon Asset Management S.A. grew its holdings in shares of Puma Biotechnology by 99.9% during the 2nd quarter. Assenagon Asset Management S.A. now owns 140,205 shares of the biopharmaceutical company’s stock valued at $457,000 after purchasing an additional 70,060 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC increased its position in Puma Biotechnology by 127.7% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock worth $409,000 after purchasing an additional 43,229 shares in the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PBYI has been the topic of a number of research analyst reports. HC Wainwright restated a “buy” rating and issued a $7.00 target price on shares of Puma Biotechnology in a research report on Friday, August 2nd. StockNews.com lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 13th.

Insider Activity

In related news, CEO Alan H. Auerbach sold 18,885 shares of the company’s stock in a transaction that occurred on Tuesday, July 2nd. The stock was sold at an average price of $3.27, for a total transaction of $61,753.95. Following the completion of the transaction, the chief executive officer now owns 7,085,435 shares in the company, valued at $23,169,372.45. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, CEO Alan H. Auerbach sold 18,885 shares of the stock in a transaction that occurred on Tuesday, July 2nd. The shares were sold at an average price of $3.27, for a total value of $61,753.95. Following the transaction, the chief executive officer now owns 7,085,435 shares in the company, valued at approximately $23,169,372.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Troy Edward Wilson sold 27,000 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $3.33, for a total value of $89,910.00. Following the completion of the transaction, the director now directly owns 350 shares of the company’s stock, valued at approximately $1,165.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 109,263 shares of company stock valued at $376,379. Insiders own 23.70% of the company’s stock.

Puma Biotechnology Stock Down 3.1 %

NASDAQ:PBYI traded down $0.08 during trading hours on Wednesday, hitting $2.46. 124,951 shares of the company traded hands, compared to its average volume of 504,620. The firm’s 50-day simple moving average is $3.28 and its 200-day simple moving average is $4.42. The company has a market cap of $118.67 million, a PE ratio of 7.70 and a beta of 1.09. Puma Biotechnology, Inc. has a one year low of $2.13 and a one year high of $7.73. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 0.90.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.10) by $0.01. Puma Biotechnology had a return on equity of 18.36% and a net margin of 4.01%. The company had revenue of $47.10 million during the quarter, compared to analyst estimates of $43.99 million. During the same quarter last year, the company earned $0.05 earnings per share. Equities analysts predict that Puma Biotechnology, Inc. will post 0.25 earnings per share for the current year.

Puma Biotechnology Profile

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States and internationally. The company offers NERLYNX, an oral version of neratinib that is used to treat adult patients with early stage HER2-overexpressed/amplified breast cancer; and advanced or metastatic HER2-positive breast cancer when combined with capecitabine.