Puma Biotechnology (NASDAQ:PBYI) Insider Sells $69,879.60 in Stock

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

Puma Biotechnology Stock Performance

Shares of Puma Biotechnology stock traded up $0.17 on Wednesday, reaching $8.13. The company had a trading volume of 426,504 shares, compared to its average volume of 328,965. The firm’s 50 day moving average price is $7.40 and its two-hundred day moving average price is $6.87. Puma Biotechnology, Inc. has a 52-week low of $3.03 and a 52-week high of $8.44. The firm has a market cap of $413.82 million, a PE ratio of 16.94 and a beta of 1.20.

Puma Biotechnology (NASDAQ:PBYI) last posted 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. 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 during the quarter, compared to analysts’ expectations of $42.00 million. As a group, sell-side analysts predict that Puma Biotechnology, Inc. will post 0.28 EPS for the current year.

Institutional Investors Weigh In On Puma Biotechnology

Several large investors have recently bought and sold shares of PBYI. Royal Bank of Canada raised its position in 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 purchasing an additional 3,066 shares in the last quarter. Empowered Funds LLC boosted its stake 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 period. Sei Investments Co. grew its position 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 worth $3,247,000 after buying an additional 78,257 shares in the last quarter. State of Wyoming grew its position 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 worth $484,000 after buying an additional 22,653 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased 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 worth $9,175,000 after buying an additional 96,503 shares during the period. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PBYI. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings cut shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, Puma Biotechnology 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.