Jay Moyes Sells 22,000 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Jay Moyes sold 22,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $7.22, for a total transaction of $158,840.00. Following the completion of the sale, the director owned 58,322 shares of the company’s stock, valued at approximately $421,084.84. This trade represents a 27.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Performance

Shares of Puma Biotechnology stock opened at $7.17 on Wednesday. The company has a market cap of $364.95 million, a P/E ratio of 14.94 and a beta of 1.21. Puma Biotechnology, Inc. has a one year low of $3.03 and a one year high of $7.90. The firm has a fifty day moving average of $7.24 and a two-hundred day moving average of $6.58.

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

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently made changes to their positions in the stock. Royal Bank of Canada grew its stake 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 worth $28,000 after purchasing an additional 3,066 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Puma Biotechnology by 39.7% during 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 during the period. China Universal Asset Management Co. Ltd. acquired a new position in shares of Puma Biotechnology during the 4th quarter worth $49,000. State of Alaska Department of Revenue acquired a new position in shares of Puma Biotechnology during the 4th quarter worth $50,000. Finally, ProShare Advisors LLC acquired a new position in shares of Puma Biotechnology during the 4th quarter worth $60,000. 61.29% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PBYI. Wall Street Zen downgraded shares of 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 report on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Puma Biotechnology currently 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.