Puma Biotechnology (NASDAQ:PBYI) Director Troy Edward Wilson Sells 10,800 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Troy Edward Wilson sold 10,800 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $77,760.00. Following the completion of the sale, the director owned 59,750 shares of the company’s stock, valued at $430,200. This represents a 15.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Trading Down 3.5%

PBYI opened at $7.07 on Tuesday. The stock’s 50 day simple moving average is $7.23 and its 200-day simple moving average is $6.57. The stock has a market cap of $359.86 million, a PE ratio of 14.73 and a beta of 1.21. Puma Biotechnology, Inc. has a 1 year low of $3.03 and a 1 year high of $7.90.

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

Analyst Ratings Changes

PBYI has been the topic of several analyst reports. Wall Street Zen lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings lowered Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. grew its stake in Puma Biotechnology by 4,823,365.0% during the third 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 last quarter. Goldman Sachs Group Inc. raised its stake in shares of 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 holdings in shares of Puma Biotechnology by 410.1% in the 4th quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company’s stock worth $3,966,000 after acquiring an additional 535,933 shares in the last quarter. Bridgeway Capital Management LLC boosted its holdings in shares of Puma Biotechnology by 78.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 773,485 shares of the biopharmaceutical company’s stock worth $4,602,000 after acquiring an additional 339,924 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC grew its position in 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 acquiring an additional 292,108 shares during the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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.