Puma Biotechnology (NASDAQ:PBYI) Director Sells $83,592.00 in Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Allison Dorval sold 11,610 shares of Puma Biotechnology stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $7.20, for a total value of $83,592.00. Following the completion of the transaction, the director owned 90,780 shares in the company, valued at approximately $653,616. This represents a 11.34% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Trading Down 3.5%

Puma Biotechnology stock traded down $0.26 during midday trading on Monday, reaching $7.07. The company’s stock had a trading volume of 177,368 shares, compared to its average volume of 189,537. Puma Biotechnology, Inc. has a 52 week low of $3.03 and a 52 week high of $7.90. The business has a 50-day moving average price of $7.23 and a 200-day moving average price of $6.57. The stock has a market cap of $359.86 million, a PE ratio of 14.73 and a beta of 1.21.

Puma Biotechnology (NASDAQ:PBYI) last released its earnings results 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. Puma Biotechnology had a return on equity of 20.30% and a net margin of 10.69%.The firm had revenue of $44.81 million for the quarter, compared to analysts’ expectations of $42.00 million. As a group, research analysts predict that Puma Biotechnology, Inc. will post 0.28 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Puma Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Dimensional Fund Advisors LP lifted 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 acquiring an additional 96,503 shares during the period. O Shaughnessy Asset Management LLC lifted its stake in shares of Puma Biotechnology by 35.3% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,120,329 shares of the biopharmaceutical company’s stock worth $6,666,000 after acquiring an additional 292,108 shares during the period. Geode Capital Management LLC lifted its stake in shares of Puma Biotechnology by 1.1% in the fourth quarter. Geode Capital Management LLC now owns 994,345 shares of the biopharmaceutical company’s stock worth $5,917,000 after acquiring an additional 10,823 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of 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 worth $5,123,000 after acquiring an additional 964,673 shares during the period. Finally, State Street Corp lifted its stake in shares of Puma Biotechnology by 17.2% in the fourth quarter. State Street Corp now owns 877,077 shares of the biopharmaceutical company’s stock worth $5,219,000 after acquiring an additional 128,419 shares during the period. 61.29% of the stock is owned by institutional investors and hedge funds.

About Puma Biotechnology

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.