Puma Biotechnology (NASDAQ:PBYI) Director Allison Dorval Sells 11,610 Shares

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Allison Dorval sold 11,610 shares of Puma Biotechnology stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $7.20, for a total transaction of $83,592.00. Following the completion of the transaction, the director directly owned 90,780 shares in the company, valued at $653,616. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Price Performance

NASDAQ PBYI opened at $7.07 on Tuesday. The business has a fifty day moving average price of $7.23 and a two-hundred day moving average price of $6.57. The stock has a market capitalization of $359.86 million, a PE ratio of 14.73 and a beta of 1.21. Puma Biotechnology, Inc. has a fifty-two week low of $3.03 and a fifty-two week high of $7.90.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating 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 company had revenue of $44.81 million for the quarter, compared to analyst estimates of $42.00 million. As a group, sell-side analysts expect that Puma Biotechnology, Inc. will post 0.28 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PBYI. Royal Bank of Canada boosted its holdings in shares of Puma Biotechnology by 244.5% during the 1st quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 3,066 shares in the last quarter. BNP Paribas Financial Markets increased its holdings in Puma Biotechnology by 39.7% in the 3rd 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. China Universal Asset Management Co. Ltd. bought a new position in Puma Biotechnology in the fourth quarter valued at about $49,000. State of Alaska Department of Revenue bought a new position in Puma Biotechnology in the fourth quarter valued at about $50,000. Finally, ProShare Advisors LLC acquired a new stake in shares of Puma Biotechnology during the fourth quarter valued at about $60,000. 61.29% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

About Puma Biotechnology

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.