Short Interest in Puma Biotechnology Inc (NASDAQ:PBYI) Increases By 20.6%

Puma Biotechnology Inc (NASDAQ:PBYI) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 8,855,600 shares, a growth of 20.6% from the July 31st total of 7,342,100 shares. Based on an average daily trading volume, of 1,360,000 shares, the short-interest ratio is currently 6.5 days. Approximately 26.4% of the company’s shares are sold short.

PBYI has been the topic of several recent research reports. ValuEngine upgraded Puma Biotechnology from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Goldman Sachs Group reduced their price target on Puma Biotechnology from $29.00 to $24.00 and set a “neutral” rating on the stock in a research report on Wednesday, May 29th. They noted that the move was a valuation call. BidaskClub lowered Puma Biotechnology from a “hold” rating to a “sell” rating in a research report on Monday, August 19th. Cowen restated a “hold” rating and issued a $25.00 price target on shares of Puma Biotechnology in a research report on Friday, August 9th. Finally, Citigroup set a $13.00 price target on Puma Biotechnology and gave the stock a “hold” rating in a research report on Monday, August 12th. Four equities research analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Puma Biotechnology presently has a consensus rating of “Hold” and an average price target of $22.56.

In other news, insider Alan H. Auerbach sold 12,715 shares of the firm’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $9.98, for a total value of $126,895.70. Following the transaction, the insider now directly owns 4,189,525 shares in the company, valued at approximately $41,811,459.50. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders sold a total of 14,435 shares of company stock valued at $145,302 over the last three months. Insiders own 21.80% of the company’s stock.

Hedge funds have recently bought and sold shares of the business. SG Americas Securities LLC bought a new position in Puma Biotechnology during the first quarter worth about $210,000. Pictet Asset Management Ltd. lifted its holdings in Puma Biotechnology by 53.3% during the first quarter. Pictet Asset Management Ltd. now owns 118,800 shares of the biopharmaceutical company’s stock worth $4,608,000 after acquiring an additional 41,300 shares in the last quarter. Spark Investment Management LLC lifted its holdings in Puma Biotechnology by 20.4% during the first quarter. Spark Investment Management LLC now owns 570,800 shares of the biopharmaceutical company’s stock worth $22,141,000 after acquiring an additional 96,700 shares in the last quarter. Candriam Luxembourg S.C.A. lifted its holdings in Puma Biotechnology by 1,427.3% during the second quarter. Candriam Luxembourg S.C.A. now owns 223,200 shares of the biopharmaceutical company’s stock worth $2,824,000 after acquiring an additional 208,586 shares in the last quarter. Finally, GSA Capital Partners LLP lifted its holdings in Puma Biotechnology by 361.8% during the second quarter. GSA Capital Partners LLP now owns 29,718 shares of the biopharmaceutical company’s stock worth $378,000 after acquiring an additional 23,283 shares in the last quarter. Hedge funds and other institutional investors own 87.71% of the company’s stock.

PBYI stock traded down $0.29 during midday trading on Friday, hitting $11.30. 1,224,300 shares of the company’s stock were exchanged, compared to its average volume of 1,214,547. The stock’s fifty day moving average price is $10.22 and its 200-day moving average price is $21.01. The company has a debt-to-equity ratio of 5.39, a quick ratio of 1.68 and a current ratio of 1.72. The company has a market cap of $432.96 million, a PE ratio of -3.78 and a beta of 1.60. Puma Biotechnology has a one year low of $8.45 and a one year high of $49.20.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.90) by ($0.07). The business had revenue of $53.90 million for the quarter, compared to the consensus estimate of $53.40 million. Puma Biotechnology had a negative return on equity of 254.09% and a negative net margin of 32.23%. The business’s revenue was up 6.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.59) earnings per share. On average, analysts expect that Puma Biotechnology will post -2.67 EPS for the current year.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care. Its drug candidates include PB272 neratinib (oral) for the treatment of early stage breast cancer, metastatic breast cancer, non-small cell lung cancer, HER2 mutation-positive solid tumors, and HER2-mutated non-amplified breast cancer; and PB272 neratinib (intravenous).

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