Allison Dorval Sells 11,610 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Allison Dorval sold 11,610 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $83,592.00. Following the completion of the transaction, the director directly owned 90,780 shares in the company, valued at $653,616. This trade represents a 11.34% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Up 1.4%

PBYI stock opened at $7.17 on Wednesday. The business’s 50-day moving average price is $7.24 and its 200-day moving average price is $6.58. The stock has a market cap of $364.95 million, a P/E ratio of 14.94 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.

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

Institutional Trading of Puma Biotechnology

A number of large investors have recently added to or reduced their stakes in PBYI. Royal Bank of Canada boosted its position in shares of Puma Biotechnology by 244.5% during the 1st quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 3,066 shares during the last quarter. Cerity Partners LLC purchased a new stake in Puma Biotechnology during the second quarter valued at $36,000. BNP Paribas Financial Markets raised its stake in Puma Biotechnology by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,290 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new position in Puma Biotechnology during the fourth quarter valued at $49,000. Finally, State of Alaska Department of Revenue bought a new position in Puma Biotechnology during the fourth quarter valued at $50,000. Institutional investors own 61.29% of the company’s stock.

Analysts Set New Price Targets

PBYI has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of 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 note on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently 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.