Kapitalo Investimentos Ltda Takes Position in Puma Biotechnology, Inc. $PBYI

Key Points

• Kapitalo Investimentos Ltda has acquired a new position in Puma Biotechnology, Inc., purchasing 70,269 shares valued at approximately $241,000.
• CEO Alan H. Auerbach and Director Alessandra Cesano have both sold shares of the company, with total insider sales amounting to 81,989 shares worth $285,351 in the last quarter.
• Analysts have upgraded Puma Biotechnology from a "buy" to a "strong-buy" rating and set an average target price of $7.00 for the stock.

Kapitalo Investimentos Ltda acquired a new stake in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 70,269 shares of the biopharmaceutical company's stock, valued at approximately $241,000. Kapitalo Investimentos Ltda owned 0.14% of Puma Biotechnology as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently made changes to their positions in PBYI. Acadian Asset Management LLC boosted its position in Puma Biotechnology by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,008,146 shares of the biopharmaceutical company's stock valued at $5,940,000 after buying an additional 36,018 shares during the period. American Century Companies Inc. increased its holdings in Puma Biotechnology by 21.2% during the 1st quarter. American Century Companies Inc. now owns 1,149,660 shares of the biopharmaceutical company's stock valued at $3,403,000 after purchasing an additional 201,284 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Puma Biotechnology by 70.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 831,689 shares of the biopharmaceutical company's stock worth $2,462,000 after buying an additional 344,321 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Puma Biotechnology by 2.7% during the first quarter. Bank of New York Mellon Corp now owns 340,886 shares of the biopharmaceutical company's stock valued at $1,009,000 after acquiring an additional 9,033 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Puma Biotechnology by 2.4% in the fourth quarter. Northern Trust Corp now owns 325,417 shares of the biopharmaceutical company's stock worth $993,000 after acquiring an additional 7,678 shares during the period. 61.29% of the stock is owned by hedge funds and other institutional investors.

Puma Biotechnology Stock Performance

Puma Biotechnology stock traded up $0.04 during midday trading on Monday, hitting $4.46. The stock had a trading volume of 398,008 shares, compared to its average volume of 500,545. Puma Biotechnology, Inc. has a 52-week low of $2.32 and a 52-week high of $6.07. The company has a market capitalization of $224.65 million, a PE ratio of 4.55 and a beta of 1.37. The firm's fifty day moving average is $4.31 and its two-hundred day moving average is $3.61. The company has a current ratio of 1.73, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research note on Friday, September 5th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of "Buy" and an average target price of $7.00.

Insiders Place Their Bets

In other news, Director Alessandra Cesano sold 27,000 shares of the business's stock in a transaction dated Friday, July 18th. The stock was sold at an average price of $3.37, for a total value of $90,990.00. Following the transaction, the director directly owned 41,850 shares in the company, valued at $141,034.50. The trade was a 39.22% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Alan H. Auerbach sold 21,580 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $3.54, for a total value of $76,393.20. Following the completion of the transaction, the chief executive officer owned 7,180,901 shares of the company's stock, valued at $25,420,389.54. The trade was a 0.30% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 81,989 shares of company stock valued at $285,351 in the last quarter. 23.30% of the stock is currently owned by company insiders.

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.