Puma Biotechnology (NASDAQ:PBYI) Director Sells $121,500.00 in Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Michael Miller sold 15,000 shares of Puma Biotechnology stock in a transaction dated Wednesday, November 11th. The stock was sold at an average price of $8.10, for a total transaction of $121,500.00. Following the sale, the director owned 66,000 shares of the company’s stock, valued at approximately $534,600. This trade represents a 18.52% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

Puma Biotechnology Stock Down 3.8%

Shares of NASDAQ:PBYI traded down $0.31 during trading on Friday, reaching $7.77. The stock had a trading volume of 403,672 shares, compared to its average volume of 469,587. The stock has a market cap of $401.71 million, a P/E ratio of 16.89 and a beta of 1.40. The business has a fifty day moving average price of $9.75 and a 200-day moving average price of $8.02. Puma Biotechnology, Inc. has a fifty-two week low of $4.76 and a fifty-two week high of $11.50.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, November 5th. The biopharmaceutical company reported $0.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.06. The firm had revenue of $55.06 million for the quarter, compared to analyst estimates of $57.50 million. Puma Biotechnology had a net margin of 10.26% and a return on equity of 17.50%. As a group, equities analysts forecast that Puma Biotechnology, Inc. will post 0.37 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of PBYI. BlackRock Inc. purchased a new position in shares of Puma Biotechnology during the 2nd quarter worth about $30,856,000. Dimensional Fund Advisors LP boosted its position 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 acquiring an additional 96,503 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Puma Biotechnology in the second quarter valued at approximately $5,214,000. Empowered Funds LLC grew its holdings in Puma Biotechnology by 135.5% in the third quarter. Empowered Funds LLC now owns 518,809 shares of the biopharmaceutical company’s stock valued at $5,152,000 after purchasing an additional 298,493 shares during the period. Finally, Sei Investments Co. grew its holdings in Puma Biotechnology by 18.2% in the first quarter. Sei Investments Co. now owns 508,182 shares of the biopharmaceutical company’s stock valued at $3,247,000 after purchasing an additional 78,257 shares during the period. Institutional investors and hedge funds own 61.29% of the company’s stock.

Wall Street Analysts Forecast Growth

PBYI has been the topic of a number of recent analyst reports. TD Cowen increased their price target on Puma Biotechnology from $5.00 to $6.00 and gave the stock a “hold” rating in a research note on Friday, August 7th. Weiss Ratings downgraded Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday. Finally, Wall Street Zen raised Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 15th. Two research analysts have rated the stock with a Hold rating. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $6.00.

Puma Biotechnology Company Profile

Puma Biotechnology is a biopharmaceutical company focused on developing and commercializing medicines for cancer treatment. Its work centers on targeted therapies, particularly treatments for breast cancer. The company’s principal product is Nerlynx (neratinib), an oral HER2-targeted medicine. In the United States, it is approved for certain patients with early-stage HER2-positive breast cancer following trastuzumab-based treatment, and for some patients with advanced or metastatic HER2-positive breast cancer in combination with capecitabine.