Insider Selling: Puma Biotechnology (NASDAQ:PBYI) CEO Sells 18,012 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) CEO Alan Auerbach sold 18,012 shares of the firm’s stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total transaction of $105,910.56. Following the transaction, the chief executive officer directly owned 7,145,951 shares in the company, valued at approximately $42,018,191.88. The trade was a 0.25% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Puma Biotechnology Trading Up 1.8%

PBYI stock traded up $0.11 on Thursday, hitting $6.20. 374,316 shares of the company’s stock traded hands, compared to its average volume of 344,360. Puma Biotechnology, Inc. has a 1-year low of $2.58 and a 1-year high of $6.29. The stock has a fifty day moving average of $5.42 and a 200-day moving average of $4.77. The stock has a market cap of $312.42 million, a price-to-earnings ratio of 8.38 and a beta of 1.19.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, November 6th. The biopharmaceutical company reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.12. The company had revenue of $54.48 million for the quarter, compared to analyst estimates of $51.00 million. Puma Biotechnology had a return on equity of 36.17% and a net margin of 17.45%. On average, equities research analysts anticipate that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Puma Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in PBYI. CWM LLC raised its holdings in Puma Biotechnology by 214.1% during the 2nd quarter. CWM LLC now owns 9,462 shares of the biopharmaceutical company’s stock worth $32,000 after purchasing an additional 6,450 shares during the last quarter. Cerity Partners LLC acquired a new position in Puma Biotechnology in the 2nd quarter worth $36,000. BNP Paribas Financial Markets boosted its position in shares of Puma Biotechnology by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock worth $43,000 after buying an additional 2,290 shares during the period. Savant Capital LLC acquired a new position in Puma Biotechnology during the 2nd quarter worth approximately $44,000. Finally, Ethic Inc. bought a new position in Puma Biotechnology in the second quarter valued at $51,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.

Puma Biotechnology Company 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.