Insider Selling: Puma Biotechnology, Inc. (NASDAQ:PBYI) Insider Sells 9,437 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) insider Jeffrey Jerome Ludwig sold 9,437 shares of Puma Biotechnology stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $29,726.55. Following the transaction, the insider now owns 108,951 shares in the company, valued at approximately $343,195.65. This represents a 7.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Puma Biotechnology Stock Performance

Shares of Puma Biotechnology stock opened at $2.95 on Friday. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40. The firm has a market cap of $144.81 million, a price-to-earnings ratio of 6.15 and a beta of 1.10. Puma Biotechnology, Inc. has a one year low of $2.22 and a one year high of $7.73. The stock’s 50-day moving average is $2.99 and its 200-day moving average is $2.98.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.10. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The firm had revenue of $80.50 million during the quarter, compared to the consensus estimate of $71.32 million. During the same quarter in the prior year, the firm posted $0.12 EPS. Equities analysts predict that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Puma Biotechnology

Several hedge funds have recently modified their holdings of the stock. Rice Hall James & Associates LLC boosted its position in Puma Biotechnology by 3.3% during the second quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company’s stock valued at $472,000 after purchasing an additional 4,686 shares during the last quarter. Patriot Financial Group Insurance Agency LLC lifted its stake in Puma Biotechnology by 72.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 8,000 shares during the last quarter. Royce & Associates LP grew its position in shares of Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 8,427 shares during the period. Squarepoint Ops LLC increased its stake in shares of Puma Biotechnology by 17.7% during the 2nd quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock worth $233,000 after purchasing an additional 10,757 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in shares of Puma Biotechnology during the 3rd quarter worth about $34,000. Institutional investors own 61.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the company. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a report on Monday, December 23rd. StockNews.com cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Friday, December 6th.

About Puma Biotechnology

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.