Puma Biotechnology (NASDAQ:PBYI) Insider Douglas Hunt Sells 8,460 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) insider Douglas Hunt sold 8,460 shares of the stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $8.26, for a total transaction of $69,879.60. Following the completion of the transaction, the insider directly owned 196,841 shares of the company’s stock, valued at approximately $1,625,906.66. The trade was a 4.12% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Trading Up 2.1%

PBYI opened at $8.13 on Thursday. The stock has a 50-day moving average of $7.40 and a 200 day moving average of $6.87. Puma Biotechnology, Inc. has a 12 month low of $3.03 and a 12 month high of $8.44. The firm has a market cap of $413.82 million, a P/E ratio of 16.94 and a beta of 1.20.

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

Analyst Upgrades and Downgrades

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

Institutional Trading of Puma Biotechnology

A number of large investors have recently made changes to their positions in the stock. Royal Bank of Canada grew its holdings in shares of Puma Biotechnology by 244.5% in the first 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 during the last quarter. BNP Paribas Financial Markets lifted its holdings in Puma Biotechnology by 39.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after buying an additional 2,290 shares in the last quarter. China Universal Asset Management Co. Ltd. purchased a new stake in Puma Biotechnology in the 4th quarter valued at about $49,000. State of Alaska Department of Revenue purchased a new stake in Puma Biotechnology in the 4th quarter valued at about $50,000. Finally, ProShare Advisors LLC bought a new position in Puma Biotechnology in the 4th quarter worth about $60,000. 61.29% of the stock is owned by hedge funds and other institutional investors.

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.