Puma Biotechnology (NASDAQ:PBYI) Stock Passes Above 200 Day Moving Average – Here’s What Happened

Puma Biotechnology, Inc. (NASDAQ:PBYI) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.54 and traded as high as $7.33. Puma Biotechnology shares last traded at $7.23, with a volume of 174,837 shares changing hands.

Analyst Ratings Changes

PBYI has been the topic of several analyst reports. Weiss Ratings cut Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Puma Biotechnology has an average rating of “Hold”.

Puma Biotechnology Stock Up 1.4%

The company has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $6.54. The firm has a market cap of $373.10 million, a PE ratio of 15.27 and a beta of 1.21.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PBYI. Invesco Ltd. boosted its position in Puma Biotechnology by 88.9% in the first quarter. Invesco Ltd. now owns 37,631 shares of the biopharmaceutical company’s stock worth $111,000 after purchasing an additional 17,707 shares during the last quarter. Royal Bank of Canada boosted its position in Puma Biotechnology by 3.8% in the first quarter. Royal Bank of Canada now owns 85,999 shares of the biopharmaceutical company’s stock worth $254,000 after purchasing an additional 3,117 shares during the last quarter. AQR Capital Management LLC boosted its position in Puma Biotechnology by 366.5% in the first quarter. AQR Capital Management LLC now owns 50,458 shares of the biopharmaceutical company’s stock worth $149,000 after purchasing an additional 39,641 shares during the last quarter. Dynamic Technology Lab Private Ltd purchased a new position in Puma Biotechnology in the first quarter worth $66,000. Finally, Geode Capital Management LLC boosted its position in Puma Biotechnology by 1.7% in the second quarter. Geode Capital Management LLC now owns 971,674 shares of the biopharmaceutical company’s stock worth $3,333,000 after purchasing an additional 16,218 shares during the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

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.