Trexquant Investment LP purchased a new position in shares of Puma Biotechnology Inc (NASDAQ:PBYI) in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 65,430 shares of the biopharmaceutical company’s stock, valued at approximately $2,538,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in Puma Biotechnology by 1.6% during the 4th quarter. BlackRock Inc. now owns 2,665,886 shares of the biopharmaceutical company’s stock valued at $54,250,000 after purchasing an additional 41,785 shares during the period. Janus Henderson Group PLC boosted its stake in Puma Biotechnology by 16.6% during the 1st quarter. Janus Henderson Group PLC now owns 2,170,423 shares of the biopharmaceutical company’s stock valued at $84,191,000 after purchasing an additional 308,479 shares during the period. Great Point Partners LLC bought a new stake in Puma Biotechnology during the 4th quarter valued at approximately $28,077,000. Millennium Management LLC boosted its stake in Puma Biotechnology by 406.7% during the 4th quarter. Millennium Management LLC now owns 1,332,696 shares of the biopharmaceutical company’s stock valued at $27,120,000 after purchasing an additional 1,069,706 shares during the period. Finally, Macquarie Group Ltd. boosted its stake in Puma Biotechnology by 27.3% during the 4th quarter. Macquarie Group Ltd. now owns 825,196 shares of the biopharmaceutical company’s stock valued at $16,793,000 after purchasing an additional 176,733 shares during the period. Institutional investors own 86.80% of the company’s stock.
Shares of PBYI stock traded up $0.11 during mid-day trading on Wednesday, reaching $13.57. The stock had a trading volume of 8,411 shares, compared to its average volume of 1,092,512. The company has a current ratio of 2.53, a quick ratio of 2.50 and a debt-to-equity ratio of 4.08. Puma Biotechnology Inc has a one year low of $13.35 and a one year high of $65.45. The company has a market capitalization of $511.22 million, a P/E ratio of -4.46 and a beta of 1.16.
Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.69) by $0.43. Puma Biotechnology had a negative return on equity of 245.22% and a negative net margin of 35.01%. The company had revenue of $99.10 million during the quarter, compared to the consensus estimate of $67.25 million. During the same quarter last year, the company earned $0.03 EPS. The company’s quarterly revenue was up 49.0% on a year-over-year basis. Sell-side analysts predict that Puma Biotechnology Inc will post -2.22 earnings per share for the current fiscal year.
Several analysts recently weighed in on PBYI shares. JPMorgan Chase & Co. decreased their target price on Puma Biotechnology from $27.00 to $19.00 and set an “underweight” rating for the company in a research note on Friday, May 10th. Cantor Fitzgerald restated a “buy” rating and set a $57.00 target price on shares of Puma Biotechnology in a research note on Thursday, February 28th. Citigroup increased their target price on Puma Biotechnology from $67.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, March 1st. Cowen restated a “hold” rating and set a $68.00 target price on shares of Puma Biotechnology in a research note on Friday, March 1st. Finally, Goldman Sachs Group decreased their target price on Puma Biotechnology from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. They noted that the move was a valuation call. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $26.89.
About Puma Biotechnology
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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