Insider Selling: Puma Biotechnology (NASDAQ:PBYI) Director Sells 10,800 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Troy Edward Wilson sold 10,800 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $77,760.00. Following the sale, the director owned 59,750 shares of the company’s stock, valued at $430,200. This trade represents a 15.31% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Trading Down 3.5%

Puma Biotechnology stock traded down $0.26 during trading on Monday, hitting $7.07. 177,368 shares of the company were exchanged, compared to its average volume of 189,537. The business’s 50 day moving average is $7.23 and its 200 day moving average is $6.57. Puma Biotechnology, Inc. has a 52 week low of $3.03 and a 52 week high of $7.90. The company has a market capitalization of $359.86 million, a P/E ratio of 14.73 and a beta of 1.21.

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

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of PBYI. Royal Bank of Canada grew its stake 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 during the period. Cerity Partners LLC bought a new position in Puma Biotechnology in the 2nd quarter valued at $36,000. BNP Paribas Financial Markets grew its stake in Puma Biotechnology by 39.7% in the 3rd 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 during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Puma Biotechnology during the 4th quarter valued at $49,000. Finally, State of Alaska Department of Revenue bought a new position in shares of Puma Biotechnology during the 4th quarter worth $50,000. Institutional investors own 61.29% of the company’s stock.

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.