Douglas Hunt Sells 8,460 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) insider Douglas Hunt sold 8,460 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $8.26, for a total value of $69,879.60. Following the transaction, the insider owned 196,841 shares in the company, valued at $1,625,906.66. This represents a 4.12% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Down 2.8%

Puma Biotechnology stock opened at $7.90 on Friday. The business has a 50 day moving average price of $7.41 and a two-hundred day moving average price of $6.88. The stock has a market cap of $402.11 million, a price-to-earnings ratio of 16.46 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 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. 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 during the quarter, compared to the consensus estimate of $42.00 million. On average, analysts expect that Puma Biotechnology, Inc. will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

Hedge funds and other institutional investors have recently modified their holdings of the stock. Royal Bank of Canada grew its position in Puma Biotechnology by 244.5% in the first 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 during the period. Empowered Funds LLC raised its stake in Puma Biotechnology by 9.6% during the first quarter. Empowered Funds LLC now owns 204,041 shares of the biopharmaceutical company’s stock worth $1,304,000 after acquiring an additional 17,856 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Puma Biotechnology by 18.2% during the first 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. State of Wyoming lifted its holdings in shares of Puma Biotechnology by 42.6% during the first quarter. State of Wyoming now owns 75,808 shares of the biopharmaceutical company’s stock valued at $484,000 after acquiring an additional 22,653 shares during the period. Finally, Dimensional Fund Advisors LP boosted its stake 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 valued at $9,175,000 after purchasing an additional 96,503 shares in the last quarter. Institutional investors own 61.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on PBYI shares. 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. Wall Street Zen cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, Puma Biotechnology currently 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.