Puma Biotechnology (NASDAQ:PBYI) Director Sells $77,760.00 in Stock

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

Puma Biotechnology Stock Performance

PBYI stock opened at $7.23 on Thursday. The company’s 50 day moving average price is $7.24 and its 200 day moving average price is $6.60. Puma Biotechnology, Inc. has a fifty-two week low of $3.03 and a fifty-two week high of $7.90. The firm has a market capitalization of $368.01 million, a price-to-earnings ratio of 15.06 and a beta of 1.21.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.13) by $0.09. Puma Biotechnology had a net margin of 10.69% and a return on equity of 20.30%. The company had revenue of $44.81 million during the quarter, compared to the consensus estimate of $42.00 million. Equities analysts forecast that Puma Biotechnology, Inc. will post 0.28 EPS for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP grew its holdings in shares of Puma Biotechnology by 7.2% during the first quarter. Dimensional Fund Advisors LP now owns 1,436,106 shares of the biopharmaceutical company’s stock worth $9,175,000 after buying an additional 96,503 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Puma Biotechnology by 35.3% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,120,329 shares of the biopharmaceutical company’s stock worth $6,666,000 after buying an additional 292,108 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Puma Biotechnology by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 994,345 shares of the biopharmaceutical company’s stock worth $5,917,000 after buying an additional 10,823 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of Puma Biotechnology by 4,823,365.0% during the third quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock worth $5,123,000 after buying an additional 964,673 shares during the last quarter. Finally, State Street Corp grew its holdings in shares of Puma Biotechnology by 17.2% during the fourth quarter. State Street Corp now owns 877,077 shares of the biopharmaceutical company’s stock worth $5,219,000 after buying an additional 128,419 shares during the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Analyst Ratings Changes

PBYI has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has a consensus rating of “Hold”.

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.