Renaissance Technologies LLC Has $12.41 Million Stock Holdings in Puma Biotechnology, Inc. $PBYI

Renaissance Technologies LLC cut its position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) by 8.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,942,413 shares of the biopharmaceutical company’s stock after selling 181,400 shares during the period. Renaissance Technologies LLC’s holdings in Puma Biotechnology were worth $12,412,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ritholtz Wealth Management lifted its position in shares of Puma Biotechnology by 11.6% in the first quarter. Ritholtz Wealth Management now owns 774,308 shares of the biopharmaceutical company’s stock worth $4,948,000 after buying an additional 80,307 shares during the last quarter. WINTON GROUP Ltd grew its stake in shares of Puma Biotechnology by 58.4% in the fourth quarter. WINTON GROUP Ltd now owns 97,159 shares of the biopharmaceutical company’s stock worth $578,000 after acquiring an additional 35,835 shares during the last quarter. State of Wyoming grew its position in Puma Biotechnology by 317.3% in the 4th quarter. State of Wyoming now owns 53,155 shares of the biopharmaceutical company’s stock worth $316,000 after purchasing an additional 40,418 shares during the last quarter. AXQ Capital LP bought a new position in Puma Biotechnology during the fourth quarter valued at about $99,000. Finally, ProShare Advisors LLC bought a new stake in shares of Puma Biotechnology during the fourth quarter valued at approximately $60,000. Institutional investors and hedge funds own 61.29% of the company’s stock.

Puma Biotechnology Stock Up 0.5%

Shares of Puma Biotechnology stock opened at $7.93 on Friday. The stock has a market cap of $403.63 million, a PE ratio of 16.52 and a beta of 1.20. Puma Biotechnology, Inc. has a 12 month low of $3.03 and a 12 month high of $8.75. The business has a fifty day simple moving average of $7.71 and a 200 day simple moving average of $7.12.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results 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 net margin of 10.69% and a return on equity of 20.30%. The business had revenue of $44.81 million for the quarter, compared to the consensus estimate of $42.00 million. Analysts expect that Puma Biotechnology, Inc. will post 0.28 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Allison Dorval sold 11,610 shares of the firm’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $7.20, for a total transaction of $83,592.00. Following the sale, the director directly owned 90,780 shares in the company, valued at $653,616. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Douglas M. Hunt sold 8,460 shares of Puma Biotechnology stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $8.26, for a total value of $69,879.60. Following the completion of the sale, the insider directly owned 196,841 shares in the company, valued at $1,625,906.66. This represents a 4.12% 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 132,028 shares of company stock valued at $1,006,711. 22.20% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on PBYI shares. Weiss Ratings lowered shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently 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.