Millennium Management LLC Has $5.78 Million Stock Holdings in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Millennium Management LLC decreased its holdings in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) by 34.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,894,126 shares of the biopharmaceutical company's stock after selling 986,762 shares during the quarter. Millennium Management LLC owned 3.86% of Puma Biotechnology worth $5,777,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of PBYI. Tower Research Capital LLC TRC boosted its holdings in shares of Puma Biotechnology by 167.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company's stock worth $31,000 after purchasing an additional 6,351 shares during the period. Gateway Wealth Partners LLC purchased a new stake in Puma Biotechnology in the 4th quarter worth approximately $31,000. Graham Capital Management L.P. purchased a new stake in Puma Biotechnology in the 4th quarter worth approximately $33,000. C2C Wealth Management LLC purchased a new stake in Puma Biotechnology in the 4th quarter worth approximately $37,000. Finally, Bayesian Capital Management LP purchased a new stake in Puma Biotechnology in the 4th quarter worth approximately $54,000. 61.29% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PBYI shares. Wall Street Zen upgraded shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Puma Biotechnology in a research note on Friday, February 28th.

Puma Biotechnology Stock Down 1.5%

Shares of PBYI traded down $0.05 during mid-day trading on Friday, hitting $3.33. 251,209 shares of the company's stock were exchanged, compared to its average volume of 435,930. Puma Biotechnology, Inc. has a twelve month low of $2.23 and a twelve month high of $4.13. The firm has a fifty day moving average of $3.07 and a two-hundred day moving average of $3.08. The company has a quick ratio of 1.40, a current ratio of 1.42 and a debt-to-equity ratio of 0.46. The stock has a market cap of $165.27 million, a price-to-earnings ratio of 6.94 and a beta of 1.29.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.29. The company had revenue of $59.10 million during the quarter, compared to analysts' expectations of $52.50 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. On average, sell-side analysts forecast that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

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.