Puma Biotechnology (NASDAQ:PBYI) CEO Alan Auerbach Sells 16,938 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI) CEO Alan Auerbach sold 16,938 shares of the stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $5.84, for a total value of $98,917.92. Following the transaction, the chief executive officer directly owned 7,163,963 shares of the company’s stock, valued at approximately $41,837,543.92. The trade was a 0.24% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link.

Puma Biotechnology Stock Performance

PBYI opened at $6.20 on Friday. The company has a market capitalization of $312.42 million, a PE ratio of 8.38 and a beta of 1.19. The stock’s fifty day moving average is $5.42 and its 200-day moving average is $4.77. Puma Biotechnology, Inc. has a one year low of $2.58 and a one year high of $6.29.

Puma Biotechnology (NASDAQ:PBYI) last released 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. Puma Biotechnology had a return on equity of 36.17% and a net margin of 17.45%.The firm had revenue of $54.48 million for the quarter, compared to analyst estimates of $51.00 million. On average, equities research analysts forecast that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Analysts Set New Price Targets

Several analysts recently commented on PBYI shares. Wall Street Zen lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings downgraded Puma Biotechnology from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Saturday, October 25th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.00.

Key Puma Biotechnology News

Here are the key news stories impacting Puma Biotechnology this week:

• Positive Sentiment: PBYI has moved above its 200?day moving average, a technical breakout that can attract momentum and trend?following buyers and supports upward pressure on the share price. Puma Biotechnology Stock Passes Above 200 Day Moving Average
• Neutral Sentiment: Puma disclosed inducement equity awards granted to new hires under Nasdaq Rule 5635(c)(4). These grants are a common hiring tool; they can create modest dilution over time but are typically not material to near?term trading unless large. Puma Biotechnology Reports Inducement Awards
• Negative Sentiment: Insider selling by senior executives may temper sentiment: CEO Alan A. Auerbach sold a total of 34,950 shares across Jan. 6–7 at ~ $5.84–$5.88, and director Douglas M. Hunt sold 8,987 shares over the same dates at similar prices. While insiders still hold large positions, these disclosed sales can be perceived negatively by some investors as reduced insider conviction or simply personal liquidity events. Auerbach SEC Filing Hunt SEC Filing

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kapitalo Investimentos Ltda purchased a new stake in Puma Biotechnology in the 2nd quarter worth about $241,000. Acorn Capital Advisors LLC increased its holdings in shares of Puma Biotechnology by 4.9% in the 2nd quarter. Acorn Capital Advisors LLC now owns 4,131,299 shares of the biopharmaceutical company’s stock valued at $14,170,000 after purchasing an additional 191,247 shares during the period. Ethic Inc. purchased a new stake in shares of Puma Biotechnology in the second quarter worth approximately $51,000. Strs Ohio acquired a new stake in shares of Puma Biotechnology during the first quarter worth approximately $420,000. Finally, Ritholtz Wealth Management purchased a new position in Puma Biotechnology during the second quarter valued at approximately $676,000. 61.29% of the stock is 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.