Puma Biotechnology (NASDAQ:PBYI) Director Sells $194,400.00 in Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Adrian Senderowicz sold 27,000 shares of the stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $194,400.00. Following the sale, the director owned 27,000 shares of the company’s stock, valued at $194,400. This represents a 50.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Price Performance

PBYI stock opened at $7.23 on Thursday. Puma Biotechnology, Inc. has a 1-year low of $3.03 and a 1-year high of $7.90. The company has a market capitalization of $368.01 million, a price-to-earnings ratio of 15.06 and a beta of 1.21. The business has a 50 day simple moving average of $7.24 and a two-hundred day simple moving average of $6.60.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.13) by $0.09. Puma Biotechnology had a net margin of 10.69% and a return on equity of 20.30%. The firm had revenue of $44.81 million for the quarter, compared to analysts’ expectations of $42.00 million. Sell-side analysts anticipate that Puma Biotechnology, Inc. will post 0.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada increased 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 worth $28,000 after purchasing an additional 3,066 shares during the last quarter. BNP Paribas Financial Markets raised its stake in Puma Biotechnology by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,290 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Puma Biotechnology during the fourth quarter valued at $49,000. State of Alaska Department of Revenue purchased a new position in shares of Puma Biotechnology in the 4th quarter worth $50,000. Finally, ProShare Advisors LLC purchased a new position in shares of Puma Biotechnology in the 4th quarter worth $60,000. 61.29% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on PBYI shares. Weiss Ratings cut 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 lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company has a consensus 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.