Acorn Capital Advisors LLC Takes $7.48 Million Position in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Acorn Capital Advisors LLC bought a new stake in Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 2,450,711 shares of the biopharmaceutical company's stock, valued at approximately $7,475,000. Puma Biotechnology accounts for approximately 4.1% of Acorn Capital Advisors LLC's investment portfolio, making the stock its 9th largest position. Acorn Capital Advisors LLC owned about 4.99% of Puma Biotechnology as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Gateway Wealth Partners LLC acquired a new position in Puma Biotechnology in the 4th quarter valued at approximately $31,000. Tower Research Capital LLC TRC increased its stake in shares of Puma Biotechnology by 167.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 6,351 shares during the last quarter. C2C Wealth Management LLC acquired a new position in shares of Puma Biotechnology in the fourth quarter worth $37,000. Franklin Resources Inc. purchased a new stake in shares of Puma Biotechnology during the third quarter worth $41,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Puma Biotechnology by 42.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 19,083 shares of the biopharmaceutical company's stock valued at $59,000 after purchasing an additional 5,726 shares during the last quarter. 61.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 target price on shares of Puma Biotechnology in a research report on Friday, February 28th. StockNews.com lowered shares of Puma Biotechnology from a "strong-buy" rating to a "buy" rating in a research report on Saturday.

Puma Biotechnology Stock Down 1.8 %

Shares of PBYI stock traded down $0.06 on Wednesday, hitting $2.93. The company's stock had a trading volume of 164,287 shares, compared to its average volume of 439,068. The stock has a market capitalization of $145.17 million, a price-to-earnings ratio of 6.09 and a beta of 1.29. Puma Biotechnology, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $5.20. The firm's fifty day moving average price is $3.13 and its 200-day moving average price is $3.04. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share for the quarter, topping analysts' consensus estimates of $0.10 by $0.29. The company had revenue of $59.10 million during the quarter, compared to analysts' expectations of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. Research analysts anticipate that Puma Biotechnology, Inc. will post 0.31 EPS for the current year.

Puma Biotechnology Company Profile

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.