Ritholtz Wealth Management Raises Stake in Puma Biotechnology, Inc. $PBYI

Ritholtz Wealth Management raised its position in Puma Biotechnology, Inc. (NASDAQ:PBYI) by 139.0% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 470,767 shares of the biopharmaceutical company’s stock after purchasing an additional 273,782 shares during the period. Ritholtz Wealth Management’s holdings in Puma Biotechnology were worth $2,500,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Puma Biotechnology by 3.8% during 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 in the last quarter. C2C Wealth Management LLC lifted its holdings in Puma Biotechnology by 36.1% during the 2nd quarter. C2C Wealth Management LLC now owns 20,620 shares of the biopharmaceutical company’s stock worth $71,000 after buying an additional 5,470 shares during the last quarter. CWM LLC boosted its position in shares of Puma Biotechnology by 214.1% during the 2nd quarter. CWM LLC now owns 9,462 shares of the biopharmaceutical company’s stock worth $32,000 after acquiring an additional 6,450 shares in the last quarter. Prospera Financial Services Inc increased its holdings in shares of Puma Biotechnology by 3.8% in the 2nd quarter. Prospera Financial Services Inc now owns 191,244 shares of the biopharmaceutical company’s stock valued at $656,000 after acquiring an additional 6,987 shares during the last quarter. Finally, Kathmere Capital Management LLC raised its position in shares of Puma Biotechnology by 38.4% during the 3rd quarter. Kathmere Capital Management LLC now owns 27,953 shares of the biopharmaceutical company’s stock worth $148,000 after acquiring an additional 7,749 shares in the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on PBYI. Weiss Ratings downgraded Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. Wall Street Zen downgraded shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Puma Biotechnology currently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

Insider Buying and Selling at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 20,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $4.86, for a total transaction of $97,200.00. Following the completion of the sale, the director directly owned 54,000 shares of the company’s stock, valued at $262,440. This trade represents a 27.03% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Douglas M. Hunt sold 5,014 shares of Puma Biotechnology stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total transaction of $29,482.32. Following the completion of the transaction, the insider owned 155,907 shares in the company, valued at approximately $916,733.16. This trade represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 63,937 shares of company stock worth $354,713. 23.30% of the stock is currently owned by insiders.

Puma Biotechnology Price Performance

Shares of NASDAQ:PBYI opened at $6.37 on Friday. Puma Biotechnology, Inc. has a 1-year low of $2.58 and a 1-year high of $6.48. The stock has a market cap of $320.99 million, a P/E ratio of 8.61 and a beta of 1.19. The firm has a fifty day moving average price of $5.56 and a 200 day moving average price of $4.90.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.12. Puma Biotechnology had a net margin of 17.45% and a return on equity of 36.17%. The business had revenue of $54.48 million during the quarter, compared to analysts’ expectations of $51.00 million. Sell-side analysts expect that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

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.