Alan Auerbach Sells 16,938 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) CEO Alan Auerbach sold 16,938 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $5.84, for a total value of $98,917.92. Following the transaction, the chief executive officer owned 7,163,963 shares in the company, valued at $41,837,543.92. This represents a 0.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Puma Biotechnology Price Performance

Shares of PBYI traded up $0.11 during mid-day trading on Thursday, reaching $6.20. The company had a trading volume of 374,316 shares, compared to its average volume of 344,360. The company has a market capitalization of $312.42 million, a P/E ratio of 8.38 and a beta of 1.19. Puma Biotechnology, Inc. has a twelve month low of $2.58 and a twelve month high of $6.29. The company’s 50-day moving average is $5.42 and its 200-day moving average is $4.77.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. Puma Biotechnology had a return on equity of 36.17% and a net margin of 17.45%.The company had revenue of $54.48 million for the quarter, compared to analysts’ expectations of $51.00 million. As a group, equities analysts expect that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PBYI. Kapitalo Investimentos Ltda acquired a new stake in shares of Puma Biotechnology during the 2nd quarter valued at $241,000. Acorn Capital Advisors LLC boosted its stake in shares of Puma Biotechnology by 4.9% during the second quarter. Acorn Capital Advisors LLC now owns 4,131,299 shares of the biopharmaceutical company’s stock valued at $14,170,000 after purchasing an additional 191,247 shares in the last quarter. Ethic Inc. bought a new stake in shares of Puma Biotechnology during the second quarter worth about $51,000. Strs Ohio acquired a new position in shares of Puma Biotechnology in the first quarter valued at approximately $420,000. Finally, Ritholtz Wealth Management bought a new position in Puma Biotechnology in the 2nd quarter valued at approximately $676,000. 61.29% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PBYI has been the subject of several research reports. Weiss Ratings cut shares of Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. Wall Street Zen cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $7.00.

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.