Puma Biotechnology (NASDAQ:PBYI) Director Sells $566,808.00 in Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Alessandra Cesano sold 62,150 shares of the firm’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $9.12, for a total value of $566,808.00. Following the completion of the sale, the director directly owned 56,700 shares in the company, valued at approximately $517,104. This represents a 52.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Performance

Puma Biotechnology stock opened at $9.60 on Friday. Puma Biotechnology, Inc. has a 52 week low of $4.37 and a 52 week high of $9.73. The stock has a market capitalization of $495.55 million, a P/E ratio of 18.46 and a beta of 1.24. The stock has a fifty day moving average of $8.77 and a 200-day moving average of $7.69.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported $0.19 earnings per share for the quarter, topping the consensus estimate of $0.04 by $0.15. Puma Biotechnology had a return on equity of 20.76% and a net margin of 11.50%.The business had revenue of $56.50 million during the quarter, compared to the consensus estimate of $53.00 million. On average, research analysts forecast that Puma Biotechnology, Inc. will post 0.37 earnings per share for the current year.

Wall Street Analysts Forecast Growth

PBYI has been the topic of a number of research analyst reports. Wall Street Zen upgraded shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 15th. TD Cowen increased their price objective on shares of Puma Biotechnology from $5.00 to $6.00 and gave the company a “hold” rating in a research note on Friday, August 7th. Finally, Weiss Ratings upgraded 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, the company presently has an average rating of “Hold” and a consensus target price of $6.00.

Institutional Trading of Puma Biotechnology

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

About Puma Biotechnology

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.