Short Interest in Puma Biotechnology Inc (NASDAQ:PBYI) Increases By 12.4%

Puma Biotechnology Inc (NASDAQ:PBYI) was the recipient of a large growth in short interest in January. As of January 31st, there was short interest totalling 7,820,000 shares, a growth of 12.4% from the January 15th total of 6,960,000 shares. Approximately 23.2% of the company’s stock are sold short. Based on an average trading volume of 1,760,000 shares, the short-interest ratio is presently 4.4 days.

A number of hedge funds have recently bought and sold shares of PBYI. First Quadrant L P CA increased its position in Puma Biotechnology by 143.1% during the 4th quarter. First Quadrant L P CA now owns 3,433 shares of the biopharmaceutical company’s stock valued at $30,000 after buying an additional 2,021 shares in the last quarter. Meeder Asset Management Inc. increased its position in Puma Biotechnology by 169.6% during the 4th quarter. Meeder Asset Management Inc. now owns 4,958 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 3,119 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in Puma Biotechnology by 40.3% during the 3rd quarter. Oppenheimer Asset Management Inc. now owns 9,521 shares of the biopharmaceutical company’s stock valued at $102,000 after buying an additional 2,737 shares in the last quarter. Metropolitan Life Insurance Co NY increased its position in Puma Biotechnology by 14.0% during the 3rd quarter. Metropolitan Life Insurance Co NY now owns 10,615 shares of the biopharmaceutical company’s stock valued at $114,000 after buying an additional 1,305 shares in the last quarter. Finally, Virtu Financial LLC bought a new position in Puma Biotechnology during the 3rd quarter valued at approximately $115,000. 92.13% of the stock is owned by institutional investors.

PBYI has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $15.00 target price on shares of Puma Biotechnology in a research report on Thursday, December 12th. Royal Bank of Canada reissued a “hold” rating and issued a $13.00 target price on shares of Puma Biotechnology in a research report on Monday, January 27th. Cantor Fitzgerald decreased their target price on Puma Biotechnology from $20.00 to $14.00 and set a “neutral” rating for the company in a research report on Friday, November 8th. Zacks Investment Research lowered Puma Biotechnology from a “strong-buy” rating to a “hold” rating and set a $9.25 target price for the company. in a research report on Wednesday, January 8th. Finally, BidaskClub raised Puma Biotechnology from a “sell” rating to a “hold” rating in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have issued a buy rating to the company’s stock. Puma Biotechnology presently has an average rating of “Hold” and a consensus price target of $12.92.

PBYI stock traded down $0.24 on Thursday, reaching $12.30. 1,113,840 shares of the company traded hands, compared to its average volume of 2,500,959. Puma Biotechnology has a one year low of $6.26 and a one year high of $43.90. The company has a debt-to-equity ratio of 6.84, a current ratio of 1.71 and a quick ratio of 1.67. The company has a market cap of $484.27 million, a P/E ratio of -4.98 and a beta of 1.77. The firm has a fifty day simple moving average of $9.30 and a 200-day simple moving average of $9.27.

About Puma Biotechnology

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care. Its drug candidates include PB272 neratinib (oral) for the treatment of early stage breast cancer, metastatic breast cancer, non-small cell lung cancer, HER2 mutation-positive solid tumors, and HER2-mutated non-amplified breast cancer; and PB272 neratinib (intravenous).

Featured Article: How can you know how many shares are floating?

Receive News & Ratings for Puma Biotechnology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology and related companies with MarketBeat.com's FREE daily email newsletter.