Insider Selling: Puma Biotechnology (NASDAQ:PBYI) Director Sells $158,840.00 in 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 shares were sold at an average price of $7.22, for a total transaction of $158,840.00. Following the transaction, the director owned 58,322 shares of the company’s stock, valued at $421,084.84. This represents a 27.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Performance

Puma Biotechnology stock opened at $7.23 on Thursday. Puma Biotechnology, Inc. has a fifty-two week low of $3.03 and a fifty-two week high of $7.90. The stock has a market cap of $368.01 million, a PE ratio of 15.06 and a beta of 1.21. The firm’s 50-day simple moving average is $7.24 and its 200 day simple moving average is $6.60.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBYI. Russell Investments Group Ltd. boosted its stake in 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 valued at $5,123,000 after acquiring an additional 964,673 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in Puma Biotechnology by 238.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 793,962 shares of the biopharmaceutical company’s stock valued at $4,724,000 after acquiring an additional 559,345 shares during the last quarter. AQR Capital Management LLC boosted its stake in Puma Biotechnology by 410.1% in the fourth quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company’s stock valued at $3,966,000 after acquiring an additional 535,933 shares during the last quarter. Bridgeway Capital Management LLC boosted its stake in Puma Biotechnology by 78.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 773,485 shares of the biopharmaceutical company’s stock valued at $4,602,000 after acquiring an additional 339,924 shares during the last quarter. Finally, O Shaughnessy Asset Management LLC raised its position 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 valued at $6,666,000 after purchasing an additional 292,108 shares during the period. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

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.