Ritholtz Wealth Management Purchases 80,307 Shares of Puma Biotechnology, Inc. $PBYI

Ritholtz Wealth Management lifted its position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) by 11.6% during the first quarter, Holdings Channel reports. The institutional investor owned 774,308 shares of the biopharmaceutical company’s stock after purchasing an additional 80,307 shares during the period. Ritholtz Wealth Management’s holdings in Puma Biotechnology were worth $4,948,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of the company. Cerity Partners LLC purchased a new stake in Puma Biotechnology in the 2nd quarter worth $36,000. BNP Paribas Financial Markets lifted its position in shares of Puma Biotechnology by 39.7% in the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after acquiring an additional 2,290 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in shares of Puma Biotechnology in the fourth quarter worth about $49,000. State of Alaska Department of Revenue bought a new position in shares of Puma Biotechnology in the fourth quarter worth about $50,000. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of Puma Biotechnology during the fourth quarter worth about $59,000. Institutional investors own 61.29% of the company’s stock.

Puma Biotechnology Stock Down 3.5%

Shares of PBYI stock opened at $7.67 on Friday. The stock has a market cap of $390.40 million, a P/E ratio of 15.98 and a beta of 1.21. Puma Biotechnology, Inc. has a 52 week low of $3.03 and a 52 week high of $8.41. The company’s fifty day simple moving average is $7.27 and its two-hundred day simple moving average is $6.71.

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, beating 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 firm had revenue of $44.81 million during the quarter, compared to analyst estimates of $42.00 million. On average, analysts anticipate that Puma Biotechnology, Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling at Puma Biotechnology

In related news, Director Troy Edward Wilson sold 10,800 shares of Puma Biotechnology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $77,760.00. Following the completion of the transaction, the director owned 59,750 shares in the company, valued at approximately $430,200. This trade represents a 15.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Brian M. Stuglik sold 8,100 shares of Puma Biotechnology stock in a transaction that occurred 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 completion of the transaction, the director owned 113,858 shares of the company’s stock, valued at approximately $819,777.60. This trade represents a 6.64% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 79,510 shares of company stock worth $572,912. Company insiders own 22.20% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Wall Street Zen downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the company 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.