Mackenzie Financial Corp Acquires 79,060 Shares of Puma Biotechnology, Inc. (NASDAQ:PBYI)

Mackenzie Financial Corp boosted its stake in Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) by 100.5% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 157,713 shares of the biopharmaceutical company's stock after acquiring an additional 79,060 shares during the period. Mackenzie Financial Corp owned 0.32% of Puma Biotechnology worth $467,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. LPL Financial LLC grew its holdings in shares of Puma Biotechnology by 23.6% during the 4th quarter. LPL Financial LLC now owns 26,567 shares of the biopharmaceutical company's stock worth $81,000 after acquiring an additional 5,080 shares during the period. Prudential Financial Inc. grew its stake in Puma Biotechnology by 5.8% in the fourth quarter. Prudential Financial Inc. now owns 106,285 shares of the biopharmaceutical company's stock worth $324,000 after purchasing an additional 5,800 shares during the period. JPMorgan Chase & Co. raised its holdings in Puma Biotechnology by 182.3% in the fourth quarter. JPMorgan Chase & Co. now owns 136,897 shares of the biopharmaceutical company's stock worth $418,000 after purchasing an additional 88,404 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in Puma Biotechnology by 99.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 112,571 shares of the biopharmaceutical company's stock worth $343,000 after purchasing an additional 56,202 shares in the last quarter. Finally, Wells Fargo & Company MN lifted its position in Puma Biotechnology by 36.5% during the fourth quarter. Wells Fargo & Company MN now owns 22,929 shares of the biopharmaceutical company's stock valued at $70,000 after buying an additional 6,126 shares during the period. 61.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd.

Puma Biotechnology Stock Up 1.2%

NASDAQ PBYI opened at $3.29 on Friday. Puma Biotechnology, Inc. has a 52 week low of $2.22 and a 52 week high of $4.06. The company has a quick ratio of 1.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.11. The company has a market capitalization of $163.28 million, a P/E ratio of 4.27 and a beta of 1.30. The stock's 50-day moving average price is $3.41 and its 200-day moving average price is $3.19.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last issued its earnings results on Thursday, August 7th. The biopharmaceutical company reported $0.12 earnings per share for the quarter, topping the consensus estimate of $0.11 by $0.01. The company had revenue of $49.20 million during the quarter, compared to the consensus estimate of $52.00 million. Puma Biotechnology had a net margin of 16.37% and a return on equity of 49.35%. On average, equities research analysts predict that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

Insider Transactions at Puma Biotechnology

In other news, Director Alessandra Cesano sold 27,000 shares of the stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $3.37, for a total transaction of $90,990.00. Following the completion of the transaction, the director directly owned 41,850 shares in the company, valued at approximately $141,034.50. This represents a 39.22% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan H. Auerbach sold 21,580 shares of the company's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $3.54, for a total transaction of $76,393.20. Following the sale, the chief executive officer directly owned 7,180,901 shares in the company, valued at approximately $25,420,389.54. The trade was a 0.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 173,649 shares of company stock valued at $596,914. 23.30% of the stock is owned by 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.

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