Insider Selling: Puma Biotechnology (NASDAQ:PBYI) Director Sells $58,320.00 in Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Brian Stuglik sold 8,100 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $58,320.00. Following the sale, the director owned 113,858 shares in the company, valued at $819,777.60. This represents a 6.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Up 0.8%

Shares of PBYI stock opened at $7.23 on Thursday. The firm has a market capitalization of $368.01 million, a P/E ratio of 15.06 and a beta of 1.21. Puma Biotechnology, Inc. has a twelve month low of $3.03 and a twelve month high of $7.90. The stock’s fifty day simple moving average is $7.24 and its 200 day simple moving average is $6.60.

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

Institutional Investors Weigh In On Puma Biotechnology

A number of institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its position in shares of Puma Biotechnology by 244.5% in the 1st quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 3,066 shares during the last quarter. Empowered Funds LLC grew its position in shares of Puma Biotechnology by 9.6% in the 1st quarter. Empowered Funds LLC now owns 204,041 shares of the biopharmaceutical company’s stock valued at $1,304,000 after buying an additional 17,856 shares during the last quarter. Sei Investments Co. grew its position in shares of Puma Biotechnology by 18.2% in the 1st quarter. Sei Investments Co. now owns 508,182 shares of the biopharmaceutical company’s stock valued at $3,247,000 after buying an additional 78,257 shares during the last quarter. State of Wyoming grew its position in shares of Puma Biotechnology by 42.6% in the 1st quarter. State of Wyoming now owns 75,808 shares of the biopharmaceutical company’s stock valued at $484,000 after buying an additional 22,653 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its position 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 buying an additional 96,503 shares during the last quarter. Institutional investors own 61.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PBYI shares. Wall Street Zen lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings lowered 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, According to MarketBeat, the stock 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.