Puma Biotechnology (NASDAQ:PBYI) CEO Alan Auerbach Sells 44,058 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) CEO Alan 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 transaction of $363,919.08. Following the completion of the sale, the chief executive officer owned 7,261,671 shares in the company, valued at approximately $59,981,402.46. This trade represents a 0.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Price Performance

Shares of PBYI opened at $8.13 on Thursday. The firm’s 50 day moving average is $7.40 and its 200-day moving average is $6.87. The stock has a market capitalization of $413.82 million, a P/E ratio of 16.94 and a beta of 1.20. Puma Biotechnology, Inc. has a 12-month low of $3.03 and a 12-month high of $8.44.

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

Institutional Trading of Puma Biotechnology

A number of hedge funds have recently bought and sold shares of the company. Invesco Ltd. boosted its holdings in shares of 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 buying an additional 17,707 shares during the period. Royal Bank of Canada lifted its position in shares of Puma Biotechnology by 3.8% in the 1st quarter. Royal Bank of Canada now owns 85,999 shares of the biopharmaceutical company’s stock valued at $254,000 after acquiring an additional 3,117 shares in the last quarter. AQR Capital Management LLC lifted its position in shares of Puma Biotechnology by 366.5% in the 1st quarter. AQR Capital Management LLC now owns 50,458 shares of the biopharmaceutical company’s stock valued at $149,000 after acquiring an additional 39,641 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Puma Biotechnology in the 1st quarter valued at approximately $66,000. Finally, Geode Capital Management LLC boosted its stake in Puma Biotechnology by 1.7% in the 2nd 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 period. 61.29% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

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.