Insider Selling: Puma Biotechnology (NASDAQ:PBYI) Insider Sells 3,973 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) insider Douglas Hunt sold 3,973 shares of Puma Biotechnology stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $5.84, for a total transaction of $23,202.32. Following the sale, the insider directly owned 160,921 shares in the company, valued at $939,778.64. This trade represents a 2.41% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Puma Biotechnology Stock Performance

Shares of Puma Biotechnology stock traded up $0.11 on Thursday, reaching $6.20. 374,316 shares of the company’s stock were exchanged, compared to its average volume of 344,360. Puma Biotechnology, Inc. has a 52 week low of $2.58 and a 52 week high of $6.29. The company has a market capitalization of $312.42 million, a P/E ratio of 8.38 and a beta of 1.19. The firm’s 50-day moving average is $5.42 and its two-hundred 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 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.12. The firm had revenue of $54.48 million during the quarter, compared to analyst estimates of $51.00 million. Puma Biotechnology had a return on equity of 36.17% and a net margin of 17.45%. On average, analysts expect that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Investors Weigh In On Puma Biotechnology

Several institutional investors and hedge funds have recently made changes to their positions in PBYI. Kapitalo Investimentos Ltda purchased a new stake in shares of Puma Biotechnology in the second quarter worth about $241,000. Acorn Capital Advisors LLC raised its position in shares of Puma Biotechnology by 4.9% during the 2nd quarter. Acorn Capital Advisors LLC now owns 4,131,299 shares of the biopharmaceutical company’s stock worth $14,170,000 after purchasing an additional 191,247 shares during the last quarter. Ethic Inc. purchased a new position in Puma Biotechnology in the 2nd quarter valued at about $51,000. Strs Ohio purchased a new position in Puma Biotechnology in the 1st quarter valued at about $420,000. Finally, Ritholtz Wealth Management acquired a new stake in Puma Biotechnology in the 2nd quarter worth about $676,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on PBYI. Wall Street Zen downgraded shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings lowered shares of Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $7.00.

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.