Adrian Senderowicz Sells 27,000 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Adrian Senderowicz sold 27,000 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $7.20, for a total transaction of $194,400.00. Following the completion of the transaction, the director directly owned 27,000 shares in the company, valued at approximately $194,400. The trade was a 50.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Price Performance

Shares of NASDAQ PBYI traded down $0.26 during midday trading on Monday, reaching $7.07. 177,368 shares of the stock were exchanged, compared to its average volume of 189,537. The business has a 50-day simple moving average of $7.23 and a two-hundred day simple moving average of $6.57. The company has a market capitalization of $359.86 million, a price-to-earnings ratio of 14.73 and a beta of 1.21. Puma Biotechnology, Inc. has a 12 month low of $3.03 and a 12 month high of $7.90.

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

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Wall Street Zen lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings downgraded shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of PBYI. Russell Investments Group Ltd. boosted its holdings in shares of Puma Biotechnology by 4,823,365.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock worth $5,123,000 after buying an additional 964,673 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Puma Biotechnology by 238.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 793,962 shares of the biopharmaceutical company’s stock worth $4,724,000 after buying an additional 559,345 shares during the period. AQR Capital Management LLC boosted its holdings in shares of Puma Biotechnology by 410.1% during the 4th quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company’s stock worth $3,966,000 after buying an additional 535,933 shares during the period. Bridgeway Capital Management LLC boosted its holdings in shares of Puma Biotechnology by 78.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 773,485 shares of the biopharmaceutical company’s stock worth $4,602,000 after buying an additional 339,924 shares during the period. Finally, O Shaughnessy Asset Management LLC boosted its holdings in shares of Puma Biotechnology by 35.3% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,120,329 shares of the biopharmaceutical company’s stock worth $6,666,000 after buying an additional 292,108 shares during the period. Institutional investors own 61.29% of the company’s stock.

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.