382,807 Shares in Puma Biotechnology, Inc. $PBYI Bought by Globeflex Capital L P

Globeflex Capital L P acquired a new stake in Puma Biotechnology, Inc. (NASDAQ:PBYI) during the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 382,807 shares of the biopharmaceutical company’s stock, valued at approximately $3,105,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Royal Bank of Canada increased its holdings in Puma Biotechnology by 244.5% during the 1st quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company’s stock worth $28,000 after purchasing an additional 3,066 shares in the last quarter. Cerity Partners LLC bought a new stake in shares of Puma Biotechnology in the second quarter valued at about $36,000. BNP Paribas Financial Markets lifted its holdings in shares of Puma Biotechnology by 39.7% in the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,290 shares in the last quarter. China Universal Asset Management Co. Ltd. acquired a new position in shares of Puma Biotechnology during the fourth quarter worth about $49,000. Finally, State of Alaska Department of Revenue acquired a new position in shares of Puma Biotechnology during the fourth quarter worth about $50,000. 61.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on PBYI shares. TD Cowen increased their price objective on Puma Biotechnology from $5.00 to $6.00 and gave the stock a “hold” rating in a report on Friday, August 7th. Wall Street Zen raised Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Finally, Weiss Ratings raised Puma Biotechnology from a “hold (c)” rating to a “hold (c+)” rating in a research report on Friday. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, Puma Biotechnology currently has a consensus rating of “Hold” and an average target price of $6.00.

Insider Activity at Puma Biotechnology

In other Puma Biotechnology news, Director Allison Dorval sold 11,610 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $7.20, for a total transaction of $83,592.00. Following the completion of the sale, the director directly owned 90,780 shares in the company, valued at $653,616. This trade represents a 11.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan H. Auerbach sold 44,058 shares of the business’s stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $8.26, for a total transaction of $363,919.08. Following the completion of the sale, the chief executive officer directly owned 7,261,671 shares of the company’s stock, valued at approximately $59,981,402.46. The trade was a 0.60% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 132,028 shares of company stock worth $1,006,711 in the last quarter. 22.20% of the stock is owned by corporate insiders.

Puma Biotechnology Stock Performance

PBYI opened at $9.24 on Monday. Puma Biotechnology, Inc. has a 52-week low of $4.30 and a 52-week high of $9.51. The firm has a market capitalization of $476.97 million, a PE ratio of 17.77 and a beta of 1.22. The business’s 50-day simple moving average is $8.19 and its 200 day simple moving average is $7.35.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $0.19 earnings per share for the quarter, beating analysts’ consensus estimates of $0.04 by $0.15. The firm had revenue of $56.50 million during the quarter, compared to the consensus estimate of $53.00 million. Puma Biotechnology had a return on equity of 20.76% and a net margin of 11.50%. On average, research analysts forecast that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

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.