Insider Selling: Puma Biotechnology (NASDAQ:PBYI) CEO Sells $363,919.08 in Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) CEO Alan Auerbach sold 44,058 shares of the stock in a transaction on Monday, July 6th. The shares were sold at an average price of $8.26, for a total value of $363,919.08. Following the sale, the chief executive officer owned 7,261,671 shares of the company’s stock, valued at approximately $59,981,402.46. This represents a 0.60% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Performance

PBYI stock traded up $0.17 on Wednesday, hitting $8.13. 426,504 shares of the company’s stock were exchanged, compared to its average volume of 328,965. The stock has a market cap of $413.82 million, a P/E ratio of 16.94 and a beta of 1.20. The firm has a 50 day moving average price of $7.40 and a two-hundred day moving average price of $6.87. Puma Biotechnology, Inc. has a 12-month low of $3.03 and a 12-month high of $8.44.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, beating the consensus estimate 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 net margin of 10.69% and a return on equity of 20.30%. Sell-side analysts expect that Puma Biotechnology, Inc. will post 0.28 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors have recently modified their holdings of the stock. Dimensional Fund Advisors LP boosted its stake in shares of Puma Biotechnology by 7.2% in 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 raised its position in 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 valued at $6,666,000 after acquiring an additional 292,108 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Puma Biotechnology by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 994,345 shares of the biopharmaceutical company’s stock valued at $5,917,000 after acquiring an additional 10,823 shares during the period. Russell Investments Group Ltd. lifted its holdings in Puma Biotechnology by 4,823,365.0% in the third quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock valued at $5,123,000 after acquiring an additional 964,673 shares during the period. Finally, State Street Corp boosted its position in Puma Biotechnology by 17.2% in the 4th quarter. State Street Corp now owns 877,077 shares of the biopharmaceutical company’s stock worth $5,219,000 after purchasing an additional 128,419 shares in the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Wall Street Analyst Weigh In

PBYI has been the topic of a number of research analyst reports. Wall Street Zen lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report 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 analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Puma Biotechnology currently has a consensus 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.