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

Puma Biotechnology, Inc. (NASDAQ:PBYI) Director Brian Stuglik sold 8,100 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $7.20, for a total value of $58,320.00. Following the transaction, the director owned 113,858 shares in the company, valued at approximately $819,777.60. The trade was a 6.64% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Stock Performance

PBYI traded down $0.26 on Monday, hitting $7.07. 177,368 shares of the company were exchanged, compared to its average volume of 189,537. The firm has a fifty day simple moving average of $7.23 and a two-hundred day simple moving average of $6.57. Puma Biotechnology, Inc. has a 12 month low of $3.03 and a 12 month high of $7.90. The stock has a market capitalization of $359.86 million, a PE ratio of 14.73 and a beta of 1.21.

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, topping 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 firm had revenue of $44.81 million for the quarter, compared to analyst estimates of $42.00 million. On average, equities analysts expect that Puma Biotechnology, Inc. will post 0.28 earnings per share for the current year.

Analyst Ratings Changes

PBYI has been the topic of several research analyst reports. Weiss Ratings cut Puma Biotechnology from a “hold (c+)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Wall Street Zen cut Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has an average rating of “Hold”.

Institutional Investors Weigh In On Puma Biotechnology

Hedge funds have recently made changes to their positions in the company. Royal Bank of Canada boosted its position in shares of Puma Biotechnology by 244.5% during the first quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company’s stock valued at $28,000 after purchasing an additional 3,066 shares in the last quarter. BNP Paribas Financial Markets raised its stake in shares of Puma Biotechnology by 39.7% in the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock worth $43,000 after purchasing an additional 2,290 shares during the last quarter. China Universal Asset Management Co. Ltd. purchased a new position in shares of Puma Biotechnology in the fourth quarter worth $49,000. State of Alaska Department of Revenue purchased a new position in shares of Puma Biotechnology in the fourth quarter worth $50,000. Finally, ProShare Advisors LLC purchased a new stake in Puma Biotechnology during the fourth quarter valued at $60,000. 61.29% of the stock is currently owned by institutional investors.

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.