Acorn Capital Advisors LLC Purchases Shares of 2,450,711 Puma Biotechnology, Inc. (NASDAQ:PBYI)

Acorn Capital Advisors LLC acquired a new stake in Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 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 biggest position. Acorn Capital Advisors LLC owned 4.99% of Puma Biotechnology as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PBYI. American Century Companies Inc. lifted its holdings in shares of Puma Biotechnology by 8.4% in the 4th quarter. American Century Companies Inc. now owns 948,376 shares of the biopharmaceutical company's stock worth $2,893,000 after acquiring an additional 73,833 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Puma Biotechnology by 24.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company's stock worth $2,635,000 after buying an additional 170,968 shares during the last quarter. Kennedy Capital Management LLC grew its position in shares of Puma Biotechnology by 36.5% during the 4th quarter. Kennedy Capital Management LLC now owns 809,375 shares of the biopharmaceutical company's stock valued at $2,469,000 after acquiring an additional 216,329 shares during the period. State Street Corp lifted its holdings in Puma Biotechnology by 17.0% during the third quarter. State Street Corp now owns 601,542 shares of the biopharmaceutical company's stock valued at $1,534,000 after purchasing an additional 87,504 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its stake in Puma Biotechnology by 32.3% during the 4th quarter. Connor Clark & Lunn Investment Management Ltd. now owns 487,368 shares of the biopharmaceutical company's stock valued at $1,486,000 after purchasing an additional 118,913 shares during the period. Institutional investors own 61.29% of the company's stock.

Puma Biotechnology Stock Performance

Shares of PBYI opened at $3.08 on Friday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. The company's fifty day moving average is $3.12 and its two-hundred day moving average is $3.03. The stock has a market capitalization of $152.80 million, a P/E ratio of 6.42 and a beta of 1.34. Puma Biotechnology, Inc. has a 1 year low of $2.23 and a 1 year high of $5.26.

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

Analyst Ratings Changes

A number of equities analysts have commented on PBYI shares. HC Wainwright restated a "buy" rating and issued a $7.00 target price on shares of Puma Biotechnology in a research note on Friday, February 28th. StockNews.com upgraded Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research note on Friday, April 25th.

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.

Want to see what other hedge funds are holding PBYI? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.