JPMorgan Chase & Co. Boosts Stock Position in Puma Biotechnology, Inc. (NASDAQ:PBYI)

JPMorgan Chase & Co. raised its position in Puma Biotechnology, Inc. (NASDAQ:PBYI) by 169.5% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 48,493 shares of the biopharmaceutical company’s stock after buying an additional 30,499 shares during the period. JPMorgan Chase & Co.’s holdings in Puma Biotechnology were worth $124,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Los Angeles Capital Management LLC purchased a new position in shares of Puma Biotechnology during the 3rd quarter worth $627,000. Advantage Alpha Capital Partners LP acquired a new stake in shares of Puma Biotechnology during the third quarter worth about $276,000. State Street Corp boosted its position in Puma Biotechnology by 17.0% in the 3rd quarter. State Street Corp now owns 601,542 shares of the biopharmaceutical company’s stock valued at $1,534,000 after buying an additional 87,504 shares during the period. BNP Paribas Financial Markets grew its stake in Puma Biotechnology by 2,002.5% during the 3rd quarter. BNP Paribas Financial Markets now owns 67,702 shares of the biopharmaceutical company’s stock worth $173,000 after purchasing an additional 64,482 shares in the last quarter. Finally, Barclays PLC grew its holdings in Puma Biotechnology by 146.5% during the 3rd quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company’s stock worth $199,000 after acquiring an additional 46,370 shares in the last quarter. 61.29% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Puma Biotechnology

In related news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $29,726.55. Following the completion of the sale, the insider now owns 108,951 shares of the company’s stock, valued at approximately $343,195.65. The trade was a 7.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Alan H. Auerbach sold 33,841 shares of Puma Biotechnology stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $106,599.15. Following the completion of the sale, the chief executive officer now owns 7,029,674 shares of the company’s stock, valued at $22,143,473.10. This trade represents a 0.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.70% of the stock is currently owned by insiders.

Puma Biotechnology Trading Down 4.9 %

Shares of PBYI stock opened at $2.89 on Monday. The company has a market capitalization of $141.86 million, a price-to-earnings ratio of 6.02 and a beta of 1.10. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. Puma Biotechnology, Inc. has a twelve month low of $2.22 and a twelve month high of $7.73. The firm has a 50-day moving average price of $3.08 and a 200 day moving average price of $2.96.

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

Analyst Upgrades and Downgrades

PBYI has been the topic of a number of research analyst reports. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Puma Biotechnology in a research 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.