Puma Biotechnology (NASDAQ:PBYI) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.93 and traded as high as $3.41. Puma Biotechnology shares last traded at $3.34, with a volume of 502,104 shares traded.

Analysts Set New Price Targets

A number of research firms recently commented on PBYI. StockNews.com downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, March 8th. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Puma Biotechnology in a report on Friday, February 28th.

Puma Biotechnology Stock Performance

The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The stock’s 50-day moving average price is $3.08 and its 200-day moving average price is $2.93. The company has a market capitalization of $169.17 million, a P/E ratio of 7.10 and a beta of 1.33.

Puma Biotechnology (NASDAQ:PBYI) last issued its earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, beating analysts’ consensus estimates of $0.10 by $0.29. The company had revenue of $59.10 million during the quarter, compared to the consensus estimate of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. As a group, equities analysts expect that Puma Biotechnology, Inc. will post 0.31 EPS for the current year.

Insider Buying and Selling

In other Puma Biotechnology news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the business’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $29,726.55. Following the completion of the transaction, the insider now directly owns 108,951 shares of the company’s stock, valued at $343,195.65. The trade was a 7.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Alan H. Auerbach sold 33,841 shares of the firm’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $106,599.15. Following the completion of the sale, the chief executive officer now owns 7,029,674 shares in the company, valued at $22,143,473.10. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. 23.70% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of PBYI. Mackenzie Financial Corp acquired a new stake in Puma Biotechnology in the fourth quarter worth about $240,000. Two Sigma Investments LP lifted its position in Puma Biotechnology by 266.2% in the fourth quarter. Two Sigma Investments LP now owns 181,471 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 131,916 shares during the period. Two Sigma Advisers LP grew its holdings in Puma Biotechnology by 22.3% during the fourth quarter. Two Sigma Advisers LP now owns 196,900 shares of the biopharmaceutical company’s stock worth $601,000 after acquiring an additional 35,900 shares during the period. ProShare Advisors LLC bought a new stake in Puma Biotechnology in the fourth quarter worth about $36,000. Finally, Nuveen Asset Management LLC lifted its holdings in Puma Biotechnology by 41.4% in the 4th quarter. Nuveen Asset Management LLC now owns 79,101 shares of the biopharmaceutical company’s stock valued at $241,000 after acquiring an additional 23,179 shares during the last quarter. Institutional investors own 61.29% of the company’s stock.

About Puma Biotechnology

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States and internationally. The company offers NERLYNX, an oral version of neratinib that is used to treat adult patients with early stage HER2-overexpressed/amplified breast cancer; and advanced or metastatic HER2-positive breast cancer when combined with capecitabine.