Insider Selling: Puma Biotechnology (NASDAQ:PBYI) Director Sells 22,000 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Jay Moyes sold 22,000 shares of Puma Biotechnology stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $7.22, for a total value of $158,840.00. Following the sale, the director owned 58,322 shares of the company’s stock, valued at approximately $421,084.84. This represents a 27.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Performance

Puma Biotechnology stock traded down $0.26 during midday trading on Monday, reaching $7.07. 177,368 shares of the company were exchanged, compared to its average volume of 189,537. The company has a market capitalization of $359.86 million, a price-to-earnings ratio of 14.73 and a beta of 1.21. The firm’s 50-day simple moving average is $7.23 and its 200-day simple moving average is $6.57. Puma Biotechnology, Inc. has a 1 year low of $3.03 and a 1 year high of $7.90.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.04) EPS 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 analysts’ expectations of $42.00 million. Puma Biotechnology had a return on equity of 20.30% and a net margin of 10.69%. On average, analysts forecast that Puma Biotechnology, Inc. will post 0.28 EPS for the current fiscal year.

Institutional Trading of Puma Biotechnology

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ritholtz Wealth Management lifted its position in Puma Biotechnology by 47.4% during the 4th quarter. Ritholtz Wealth Management now owns 694,001 shares of the biopharmaceutical company’s stock worth $4,129,000 after acquiring an additional 223,234 shares in the last quarter. Baron Wealth Management LLC grew its stake in shares of Puma Biotechnology by 62.6% during the fourth quarter. Baron Wealth Management LLC now owns 35,392 shares of the biopharmaceutical company’s stock valued at $211,000 after acquiring an additional 13,625 shares in the last quarter. D Orazio & Associates Inc. grew its stake in shares of Puma Biotechnology by 112.5% during the third quarter. D Orazio & Associates Inc. now owns 31,933 shares of the biopharmaceutical company’s stock valued at $170,000 after acquiring an additional 16,906 shares in the last quarter. Caprock Group LLC acquired a new stake in shares of Puma Biotechnology during the third quarter valued at about $59,000. Finally, LSV Asset Management grew its stake in shares of Puma Biotechnology by 4.5% during the third quarter. LSV Asset Management now owns 559,921 shares of the biopharmaceutical company’s stock valued at $2,973,000 after acquiring an additional 24,181 shares in the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Analyst Ratings Changes

Several analysts have commented on PBYI shares. Weiss Ratings cut Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a report on Monday, May 11th. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company 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.