Empowered Funds LLC bought a new stake in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor bought 220,316 shares of the biopharmaceutical company's stock, valued at approximately $1,787,000. Empowered Funds LLC owned 0.43% of Puma Biotechnology as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in Puma Biotechnology in the 2nd quarter worth approximately $30,856,000. Russell Investments Group Ltd. boosted its position in shares of Puma Biotechnology by 4,823,365.0% in the third quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company's stock valued at $5,123,000 after acquiring an additional 964,673 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Puma Biotechnology in the second quarter worth $5,214,000. Goldman Sachs Group Inc. grew its stake in shares of Puma Biotechnology by 238.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 793,962 shares of the biopharmaceutical company's stock worth $4,724,000 after acquiring an additional 559,345 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in Puma Biotechnology by 410.1% during the fourth quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company's stock worth $3,966,000 after acquiring an additional 535,933 shares during the period. Institutional investors and hedge funds own 61.29% of the company's stock.
Puma Biotechnology Trading Down 2.9%
Shares of PBYI stock opened at $9.41 on Friday. Puma Biotechnology, Inc. has a 12 month low of $4.30 and a 12 month high of $9.73. The company has a market capitalization of $485.74 million, a P/E ratio of 18.10 and a beta of 1.24. The stock has a 50 day moving average of $8.50 and a two-hundred day moving average of $7.51.
Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported $0.19 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.04 by $0.15. The business had revenue of $56.50 million for the quarter, compared to analysts' expectations of $53.00 million. Puma Biotechnology had a return on equity of 20.76% and a net margin of 11.50%. Sell-side analysts predict that Puma Biotechnology, Inc. will post 0.37 earnings per share for the current fiscal year.
Key Headlines Impacting Puma Biotechnology
Here are the key news stories impacting Puma Biotechnology this week:
- Positive Sentiment: Zacks raised its fiscal 2026 EPS forecast to $0.37 from $0.31, above the current full-year consensus of $0.31. It also increased its fiscal 2028 estimate to $0.45 from $0.42, signaling improved expectations for near- and longer-term profitability.
- Positive Sentiment: Quarterly estimates for the first and second quarters of 2027 were lifted to $0.04 and $0.07, respectively, from $0.03 and $0.06.
- Neutral Sentiment: The current full-year consensus EPS estimate remains at $0.31, indicating that the revisions have not yet changed the broader market outlook for the company’s current fiscal year.
- Negative Sentiment: Zacks cut its fiscal 2027 EPS forecast to $0.14 from $0.18. It also lowered fourth-quarter 2027 EPS to $0.02 from $0.04 and third-quarter 2027 EPS to $0.02 from $0.05.
- Negative Sentiment: The third-quarter 2026 EPS estimate was reduced to $0.06 from $0.08, suggesting softer near-term earnings expectations.
Analyst Ratings Changes
A number of brokerages have weighed in on PBYI. TD Cowen increased their price target on shares of Puma Biotechnology from $5.00 to $6.00 and gave the company a "hold" rating in a report on Friday, August 7th. Weiss Ratings upgraded shares of Puma Biotechnology from a "hold (c)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Finally, Wall Street Zen raised shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research report on Saturday, August 15th. Two analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $6.00.
Read Our Latest Stock Analysis on PBYI
Insider Transactions at Puma Biotechnology
In other news, Director Jay M. Moyes sold 22,000 shares of the firm's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $7.22, for a total transaction of $158,840.00. Following the completion of the transaction, the director directly owned 58,322 shares of the company's stock, valued at approximately $421,084.84. This trade represents a 27.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Alan H. Auerbach sold 44,058 shares of Puma Biotechnology stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $8.26, for a total transaction of $363,919.08. Following the sale, the chief executive officer owned 7,261,671 shares in the company, valued at approximately $59,981,402.46. This trade represents a 0.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 132,028 shares of company stock worth $1,006,711. 22.20% of the stock is currently owned by company insiders.
About Puma Biotechnology
(
Free Report)
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.
See Also
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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
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