Renaissance Technologies LLC Cuts Position in Puma Biotechnology, Inc. $PBYI

Renaissance Technologies LLC decreased its stake in Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) by 8.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,942,413 shares of the biopharmaceutical company's stock after selling 181,400 shares during the period. Renaissance Technologies LLC owned approximately 3.82% of Puma Biotechnology worth $12,412,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of PBYI. Ritholtz Wealth Management raised its position in Puma Biotechnology by 11.6% during the first quarter. Ritholtz Wealth Management now owns 774,308 shares of the biopharmaceutical company's stock worth $4,948,000 after acquiring an additional 80,307 shares during the last quarter. DGS Capital Management LLC acquired a new stake in shares of Puma Biotechnology during the first quarter worth $67,000. Kathmere Capital Management LLC grew its holdings in Puma Biotechnology by 9.8% in the 1st quarter. Kathmere Capital Management LLC now owns 29,779 shares of the biopharmaceutical company's stock valued at $190,000 after buying an additional 2,648 shares during the period. WINTON GROUP Ltd grew its holdings in Puma Biotechnology by 58.4% in the fourth quarter. WINTON GROUP Ltd now owns 97,159 shares of the biopharmaceutical company's stock valued at $578,000 after purchasing an additional 35,835 shares during the period. Finally, State of Wyoming increased its holdings in shares of Puma Biotechnology by 317.3% during the 4th quarter. State of Wyoming now owns 53,155 shares of the biopharmaceutical company's stock worth $316,000 after buying an additional 40,418 shares during the last quarter. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PBYI has been the topic of several research reports. Weiss Ratings lowered shares of Puma Biotechnology from a "hold (c+)" rating to a "hold (c)" rating in a report on Monday, May 11th. Wall Street Zen downgraded Puma Biotechnology from a "strong-buy" rating to a "buy" rating in a report on Saturday, May 16th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Puma Biotechnology presently has a consensus rating of "Hold".

Insider Buying and Selling

In related news, CEO Alan H. Auerbach sold 44,058 shares of Puma Biotechnology stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $8.26, for a total value of $363,919.08. Following the transaction, the chief executive officer owned 7,261,671 shares of the company's stock, valued at approximately $59,981,402.46. This trade represents a 0.60% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Douglas M. Hunt sold 8,460 shares of the business's stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $8.26, for a total transaction of $69,879.60. Following the sale, the insider owned 196,841 shares in the company, valued at $1,625,906.66. This represents a 4.12% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 132,028 shares of company stock worth $1,006,711 in the last ninety days. Insiders own 22.20% of the company's stock.

Puma Biotechnology Stock Performance

NASDAQ:PBYI opened at $7.93 on Friday. The stock has a market cap of $403.63 million, a price-to-earnings ratio of 16.52 and a beta of 1.20. The business has a fifty day moving average of $7.71 and a 200-day moving average of $7.12. Puma Biotechnology, Inc. has a 1 year low of $3.03 and a 1 year high of $8.75.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last released its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.04) EPS for the quarter, topping analysts' consensus estimates of ($0.13) by $0.09. Puma Biotechnology had a net margin of 10.69% and a return on equity of 20.30%. The company had revenue of $44.81 million for the quarter, compared to the consensus estimate of $42.00 million. On average, equities research analysts predict that Puma Biotechnology, Inc. will post 0.28 EPS for the current year.

About Puma Biotechnology

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company's lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.

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