Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) by 70.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 831,689 shares of the biopharmaceutical company's stock after purchasing an additional 344,321 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 1.68% of Puma Biotechnology worth $2,462,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also made changes to their positions in PBYI. LPL Financial LLC lifted its position in Puma Biotechnology by 23.6% in the fourth quarter. LPL Financial LLC now owns 26,567 shares of the biopharmaceutical company's stock worth $81,000 after purchasing an additional 5,080 shares during the period. JPMorgan Chase & Co. raised its stake in Puma Biotechnology by 182.3% during the 4th quarter. JPMorgan Chase & Co. now owns 136,897 shares of the biopharmaceutical company's stock valued at $418,000 after purchasing an additional 88,404 shares during the period. Wells Fargo & Company MN raised its stake in Puma Biotechnology by 36.5% during the 4th quarter. Wells Fargo & Company MN now owns 22,929 shares of the biopharmaceutical company's stock valued at $70,000 after purchasing an additional 6,126 shares during the period. Barclays PLC raised its stake in Puma Biotechnology by 13.3% during the 4th quarter. Barclays PLC now owns 88,407 shares of the biopharmaceutical company's stock valued at $270,000 after purchasing an additional 10,386 shares during the period. Finally, XTX Topco Ltd raised its stake in Puma Biotechnology by 126.2% during the 4th quarter. XTX Topco Ltd now owns 59,674 shares of the biopharmaceutical company's stock valued at $182,000 after purchasing an additional 33,290 shares during the period. 61.29% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Separately, Wall Street Zen raised shares of Puma Biotechnology from a "hold" rating to a "buy" rating in a research note on Sunday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of "Buy" and a consensus price target of $7.00.
Read Our Latest Stock Analysis on PBYI
Insider Activity
In other news, Director Adrian Senderowicz sold 27,000 shares of Puma Biotechnology stock in a transaction on Friday, June 13th. The shares were sold at an average price of $3.40, for a total transaction of $91,800.00. Following the transaction, the director directly owned 27,000 shares of the company's stock, valued at $91,800. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Allison Dorval sold 11,610 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $3.40, for a total transaction of $39,474.00. Following the completion of the sale, the director directly owned 75,390 shares in the company, valued at $256,326. This represents a 13.34% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 173,649 shares of company stock worth $596,914. Corporate insiders own 23.30% of the company's stock.
Puma Biotechnology Price Performance
Shares of NASDAQ PBYI traded up $0.0840 during mid-day trading on Tuesday, hitting $5.0940. 443,130 shares of the stock were exchanged, compared to its average volume of 470,125. The company has a market cap of $256.59 million, a P/E ratio of 5.20 and a beta of 1.30. The stock's fifty day simple moving average is $3.61 and its two-hundred day simple moving average is $3.29. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.62 and a current ratio of 1.73. Puma Biotechnology, Inc. has a twelve month low of $2.22 and a twelve month high of $6.07.
Puma Biotechnology Company Profile
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Free Report)
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.
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