Ritholtz Wealth Management Increases Stock Position in Puma Biotechnology, Inc. $PBYI

Ritholtz Wealth Management lifted its stake in Puma Biotechnology, Inc. (NASDAQ:PBYI) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 774,308 shares of the biopharmaceutical company’s stock after acquiring an additional 80,307 shares during the quarter. Ritholtz Wealth Management owned 1.52% of Puma Biotechnology worth $4,948,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PBYI. Barclays PLC boosted its holdings in Puma Biotechnology by 1.9% in the fourth quarter. Barclays PLC now owns 81,434 shares of the biopharmaceutical company’s stock worth $485,000 after purchasing an additional 1,553 shares during the last quarter. Cerity Partners LLC grew its position in Puma Biotechnology by 18.2% in the 4th quarter. Cerity Partners LLC now owns 12,072 shares of the biopharmaceutical company’s stock worth $72,000 after purchasing an additional 1,862 shares during the period. BNP Paribas Financial Markets raised its stake 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 during the last quarter. Baron Wealth Management LLC raised its stake in Puma Biotechnology by 8.2% during the 1st quarter. Baron Wealth Management LLC now owns 38,278 shares of the biopharmaceutical company’s stock valued at $245,000 after buying an additional 2,886 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Puma Biotechnology by 2.5% during the 4th quarter. First Trust Advisors LP now owns 122,800 shares of the biopharmaceutical company’s stock valued at $731,000 after buying an additional 3,021 shares during the period. 61.29% of the stock is owned by hedge funds and other institutional investors.

Puma Biotechnology Trading Down 3.5%

Shares of PBYI stock opened at $7.67 on Friday. Puma Biotechnology, Inc. has a 12 month low of $3.03 and a 12 month high of $8.41. The stock has a market cap of $390.40 million, a P/E ratio of 15.98 and a beta of 1.21. The company has a 50 day simple moving average of $7.27 and a two-hundred day simple moving average of $6.71.

Puma Biotechnology (NASDAQ:PBYI) last issued 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, equities analysts forecast that Puma Biotechnology, Inc. will post 0.28 earnings per share for the current year.

Insider Activity at Puma Biotechnology

In related news, Director Jay M. Moyes sold 22,000 shares of Puma Biotechnology stock in a transaction on Friday, June 12th. The stock was sold at an average price of $7.22, for a total transaction of $158,840.00. Following the transaction, the director directly owned 58,322 shares in the company, valued at approximately $421,084.84. The trade was a 27.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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. Also, Director Brian M. Stuglik sold 8,100 shares of the firm’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $58,320.00. Following the completion of the transaction, the director directly owned 113,858 shares in the company, valued at $819,777.60. This trade represents a 6.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 79,510 shares of company stock valued at $572,912 in the last ninety days. Corporate insiders own 22.20% of the company’s stock.

Wall Street Analyst Weigh In

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

Puma Biotechnology 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.