Connor Clark & Lunn Investment Management Ltd. Buys 68,567 Shares of Puma Biotechnology, Inc. $PBYI

Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) by 8.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 900,256 shares of the biopharmaceutical company’s stock after acquiring an additional 68,567 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.81% of Puma Biotechnology worth $3,088,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of PBYI. Bank of New York Mellon Corp boosted its stake in shares of Puma Biotechnology by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 340,886 shares of the biopharmaceutical company’s stock valued at $1,009,000 after purchasing an additional 9,033 shares during the period. Bailard Inc. bought a new stake in Puma Biotechnology during the 1st quarter valued at $73,000. Universal Beteiligungs und Servicegesellschaft mbH purchased a new stake in Puma Biotechnology during the 1st quarter valued at $116,000. Mackenzie Financial Corp grew its holdings in Puma Biotechnology by 100.5% in the 1st quarter. Mackenzie Financial Corp now owns 157,713 shares of the biopharmaceutical company’s stock worth $467,000 after acquiring an additional 79,060 shares during the last quarter. Finally, Federated Hermes Inc. increased its position in shares of Puma Biotechnology by 22.8% in the first quarter. Federated Hermes Inc. now owns 200,962 shares of the biopharmaceutical company’s stock valued at $595,000 after acquiring an additional 37,321 shares during the period. 61.29% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Puma Biotechnology news, Director Michael Patrick Miller sold 20,000 shares of the stock in a transaction on Tuesday, November 11th. The stock was sold at an average price of $4.86, for a total value of $97,200.00. Following the completion of the transaction, the director owned 54,000 shares in the company, valued at approximately $262,440. This represents a 27.03% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 23.30% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

PBYI has been the subject of a number of analyst reports. Wall Street Zen lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Saturday, November 8th. Weiss Ratings cut Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a report on Saturday, October 25th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $7.00.

Puma Biotechnology Price Performance

Shares of NASDAQ PBYI opened at $4.89 on Friday. Puma Biotechnology, Inc. has a 1 year low of $2.32 and a 1 year high of $6.12. The stock has a market capitalization of $246.31 million, a P/E ratio of 4.99 and a beta of 1.35. The company’s 50-day moving average is $5.01 and its 200 day moving average is $4.17. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.73 and a quick ratio of 1.62.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data on Thursday, November 6th. The biopharmaceutical company reported $0.21 EPS for the quarter, topping the consensus estimate of $0.09 by $0.12. Puma Biotechnology had a net margin of 20.38% and a return on equity of 53.15%. The business had revenue of $54.48 million during the quarter, compared to analyst estimates of $51.00 million. Puma Biotechnology has set its FY 2025 guidance at EPS. Q4 2025 guidance at EPS. On average, sell-side analysts expect that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

Puma Biotechnology Profile

Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care in the United States and internationally. The company offers NERLYNX, an oral version of neratinib that is used to treat adult patients with early stage HER2-overexpressed/amplified breast cancer; and advanced or metastatic HER2-positive breast cancer when combined with capecitabine.