Brian Stuglik Sells 8,100 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Brian Stuglik sold 8,100 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $58,320.00. Following the completion of the sale, the director owned 113,858 shares of the company’s stock, valued at approximately $819,777.60. The trade was a 6.64% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Price Performance

Shares of NASDAQ PBYI traded down $0.26 during mid-day trading on Monday, reaching $7.07. The company’s stock had a trading volume of 177,368 shares, compared to its average volume of 189,537. The firm has a market capitalization of $359.86 million, a PE ratio of 14.73 and a beta of 1.21. The stock has a fifty day moving average of $7.23 and a two-hundred day moving average of $6.57. Puma Biotechnology, Inc. has a 52 week low of $3.03 and a 52 week high of $7.90.

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

Hedge Funds Weigh In On Puma Biotechnology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Royal Bank of Canada raised its position in Puma Biotechnology by 244.5% during the first quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 3,066 shares during the period. BNP Paribas Financial Markets raised its position in Puma Biotechnology by 39.7% during 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 during the period. China Universal Asset Management Co. Ltd. purchased a new stake in Puma Biotechnology during the fourth quarter valued at approximately $49,000. State of Alaska Department of Revenue purchased a new stake in Puma Biotechnology during the fourth quarter valued at approximately $50,000. Finally, ProShare Advisors LLC purchased a new stake in Puma Biotechnology during the fourth quarter valued at approximately $60,000. 61.29% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on PBYI. Wall Street Zen lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings lowered Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock currently has an average rating of “Hold”.

Puma Biotechnology Company Profile

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.