Puma Biotechnology (NASDAQ:PBYI) Director Brian Stuglik Sells 8,100 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Brian Stuglik sold 8,100 shares of Puma Biotechnology stock in a transaction on Friday, June 12th. The shares were sold at an average price of $7.20, for a total value of $58,320.00. Following the completion of the transaction, the director owned 113,858 shares in the company, valued at $819,777.60. This represents a 6.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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 firm has a market cap 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. The stock has a fifty day moving average price of $7.23 and a 200-day moving average price of $6.57.

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

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the stock. Wall Street Zen downgraded shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, May 16th. Weiss Ratings cut shares of Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research report on Monday, May 11th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Puma Biotechnology presently has an average rating of “Hold”.

Institutional Investors Weigh In On Puma Biotechnology

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Barclays PLC boosted its holdings in Puma Biotechnology by 1.9% in the fourth quarter. Barclays PLC now owns 81,434 shares of the biopharmaceutical company’s stock worth $485,000 after acquiring an additional 1,553 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Puma Biotechnology by 18.2% during the fourth quarter. Cerity Partners LLC now owns 12,072 shares of the biopharmaceutical company’s stock valued at $72,000 after acquiring an additional 1,862 shares in the last quarter. BNP Paribas Financial Markets increased its holdings 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 valued at $43,000 after acquiring an additional 2,290 shares in the last quarter. Kathmere Capital Management LLC raised its position in shares of Puma Biotechnology by 9.8% in the 1st quarter. Kathmere Capital Management LLC now owns 29,779 shares of the biopharmaceutical company’s stock valued at $190,000 after purchasing an additional 2,648 shares during the last quarter. Finally, Baron Wealth Management LLC raised its position in shares of Puma Biotechnology by 8.2% in the 1st quarter. Baron Wealth Management LLC now owns 38,278 shares of the biopharmaceutical company’s stock valued at $245,000 after purchasing an additional 2,886 shares during the last quarter. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

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.