Puma Biotechnology (NASDAQ:PBYI) Share Price Passes Above 200 Day Moving Average – Time to Sell?

Puma Biotechnology, Inc. (NASDAQ:PBYI) shares crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $4.87 and traded as high as $6.46. Puma Biotechnology shares last traded at $6.38, with a volume of 291,119 shares traded.

Analyst Upgrades and Downgrades

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

Puma Biotechnology Price Performance

The firm has a market cap of $320.99 million, a PE ratio of 8.61 and a beta of 1.19. The stock has a 50 day simple moving average of $5.56 and a 200-day simple moving average of $4.90.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, November 6th. The biopharmaceutical company reported $0.21 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.12. Puma Biotechnology had a return on equity of 36.17% and a net margin of 17.45%.The firm had revenue of $54.48 million during the quarter, compared to the consensus estimate of $51.00 million. As a group, equities analysts predict that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Insider Transactions at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 20,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 11th. The shares were sold at an average price of $4.86, for a total value of $97,200.00. Following the completion of the transaction, the director directly owned 54,000 shares in the company, valued at $262,440. The trade was a 27.03% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas M. Hunt sold 5,014 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total value of $29,482.32. Following the completion of the transaction, the insider directly owned 155,907 shares in the company, valued at approximately $916,733.16. This represents a 3.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 63,937 shares of company stock worth $354,713. Corporate insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

Several institutional investors have recently made changes to their positions in the business. Kapitalo Investimentos Ltda purchased a new position in shares of Puma Biotechnology during the 2nd quarter valued at about $241,000. Acorn Capital Advisors LLC increased its holdings in Puma Biotechnology by 4.9% in the 2nd quarter. Acorn Capital Advisors LLC now owns 4,131,299 shares of the biopharmaceutical company’s stock worth $14,170,000 after acquiring an additional 191,247 shares in the last quarter. Ethic Inc. bought a new stake in Puma Biotechnology during the 2nd quarter worth approximately $51,000. Strs Ohio purchased a new position in Puma Biotechnology during the first quarter valued at approximately $420,000. Finally, Ritholtz Wealth Management bought a new position in shares of Puma Biotechnology in the second quarter worth approximately $676,000. Institutional investors own 61.29% of the company’s stock.

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.