Puma Biotechnology, Inc. (NASDAQ:PBYI) Stake Raised by Mackenzie Financial Corp

Key Points

• Mackenzie Financial Corp increased its stake in Puma Biotechnology by 100.5%, acquiring an additional 79,060 shares, bringing its total ownership to 157,713 shares valued at $467,000.
• Insider activity revealed that Director Alessandra Cesano sold 27,000 shares, resulting in a 39.22% decrease in ownership, while CEO Alan H. Auerbach reduced his stake by 0.30% after selling 21,580 shares.
• Puma Biotechnology shares experienced a 12.2% increase in trading, reaching $3.69, with a significant trading volume of over 1.35 million shares compared to its average of 321,149 shares.

Mackenzie Financial Corp increased its position in Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) by 100.5% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 157,713 shares of the biopharmaceutical company's stock after purchasing 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 bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Puma Biotechnology in the first quarter worth about $116,000. Bailard Inc. acquired a new position in Puma Biotechnology in the first quarter worth about $73,000. Bank of New York Mellon Corp grew its stake in Puma Biotechnology by 2.7% in the first quarter. Bank of New York Mellon Corp now owns 340,886 shares of the biopharmaceutical company's stock worth $1,009,000 after purchasing an additional 9,033 shares in the last quarter. PFG Investments LLC acquired a new position in Puma Biotechnology in the first quarter worth about $59,000. Finally, Two Sigma Investments LP grew its stake in Puma Biotechnology by 266.2% in the fourth quarter. Two Sigma Investments LP now owns 181,471 shares of the biopharmaceutical company's stock worth $553,000 after purchasing an additional 131,916 shares in the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.

Puma Biotechnology Stock Performance

NASDAQ PBYI traded up $0.07 during trading hours on Tuesday, reaching $4.92. The company's stock had a trading volume of 570,217 shares, compared to its average volume of 442,446. The company has a current ratio of 1.73, a quick ratio of 1.62 and a debt-to-equity ratio of 0.10. The business has a 50-day simple moving average of $3.44 and a 200 day simple moving average of $3.22. Puma Biotechnology, Inc. has a 52 week low of $2.22 and a 52 week high of $5.06. The stock has a market cap of $247.57 million, a PE ratio of 4.99 and a beta of 1.30.

Insider Transactions at Puma Biotechnology

In other Puma Biotechnology news, Director Allison Dorval sold 11,610 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $3.40, for a total value of $39,474.00. Following the transaction, the director owned 75,390 shares of the company's stock, valued at $256,326. This trade represents a 13.34% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jay M. Moyes sold 22,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $3.40, for a total transaction of $74,800.00. Following the completion of the transaction, the director directly owned 53,322 shares in the company, valued at $181,294.80. This represents a 29.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 173,649 shares of company stock valued at $596,914 over the last ninety days. Insiders own 23.30% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Puma Biotechnology from a "strong-buy" rating to a "hold" rating in a research note on Saturday.

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.