Insider Selling: Puma Biotechnology (NASDAQ:PBYI) Director Sells $45,500.00 in Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Troy Wilson sold 5,000 shares of Puma Biotechnology stock in a transaction on Monday, September 14th. The stock was sold at an average price of $9.10, for a total transaction of $45,500.00. Following the completion of the transaction, the director directly owned 54,750 shares in the company, valued at approximately $498,225. The trade was a 8.37% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Up 0.8%

Shares of PBYI opened at $9.60 on Friday. The stock has a market capitalization of $495.55 million, a P/E ratio of 18.46 and a beta of 1.24. The firm has a fifty day simple moving average of $8.77 and a two-hundred day simple moving average of $7.69. Puma Biotechnology, Inc. has a twelve month low of $4.37 and a twelve month high of $9.73.

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

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PBYI. BlackRock Inc. purchased a new stake in Puma Biotechnology in the second quarter worth $30,856,000. Dimensional Fund Advisors LP grew its position in shares of Puma Biotechnology by 7.2% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,436,106 shares of the biopharmaceutical company’s stock worth $9,175,000 after buying an additional 96,503 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Puma Biotechnology in the 2nd quarter worth about $5,214,000. Ritholtz Wealth Management increased its stake in shares of Puma Biotechnology by 11.6% in the 1st quarter. Ritholtz Wealth Management now owns 774,308 shares of the biopharmaceutical company’s stock worth $4,948,000 after acquiring an additional 80,307 shares in the last quarter. Finally, Sei Investments Co. lifted its position in Puma Biotechnology by 18.2% during the 1st quarter. Sei Investments Co. now owns 508,182 shares of the biopharmaceutical company’s stock valued at $3,247,000 after acquiring an additional 78,257 shares during the period. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a biopharmaceutical company focused on developing and commercializing medicines for the treatment of cancer. The company’s primary product is NERLYNX (neratinib), an oral tyrosine kinase inhibitor designed to target HER2 and other members of the human epidermal growth factor receptor family.

In the United States, NERLYNX is approved for the extended adjuvant treatment of adults with early-stage HER2-positive breast cancer following postoperative trastuzumab-based therapy.