Alan Auerbach Sells 44,058 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) CEO Alan Auerbach sold 44,058 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $8.26, for a total value of $363,919.08. Following the sale, the chief executive officer directly owned 7,261,671 shares of the company’s stock, valued at $59,981,402.46. The trade was a 0.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Down 2.8%

Shares of PBYI stock opened at $7.90 on Friday. Puma Biotechnology, Inc. has a 12 month low of $3.03 and a 12 month high of $8.44. The company has a market cap of $402.11 million, a PE ratio of 16.46 and a beta of 1.20. The business’s 50 day moving average is $7.41 and its two-hundred day moving average is $6.88.

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on PBYI shares. Wall Street Zen cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings cut Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Puma Biotechnology has a consensus rating of “Hold”.

Hedge Funds Weigh In On Puma Biotechnology

Several large investors have recently added to or reduced their stakes in PBYI. Russell Investments Group Ltd. lifted its position in shares of Puma Biotechnology by 4,823,365.0% in the 3rd quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock worth $5,123,000 after acquiring an additional 964,673 shares during the period. Goldman Sachs Group Inc. increased its position in shares of Puma Biotechnology by 238.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 793,962 shares of the biopharmaceutical company’s stock valued at $4,724,000 after purchasing an additional 559,345 shares during the period. AQR Capital Management LLC raised its stake in shares of Puma Biotechnology by 410.1% in the fourth quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company’s stock valued at $3,966,000 after purchasing an additional 535,933 shares in the last quarter. Bridgeway Capital Management LLC raised its stake in shares of Puma Biotechnology by 78.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 773,485 shares of the biopharmaceutical company’s stock valued at $4,602,000 after purchasing an additional 339,924 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its position in Puma Biotechnology by 35.3% in 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 purchasing an additional 292,108 shares during the period. Institutional investors and hedge funds 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.