Ritholtz Wealth Management Invests $676,000 in Puma Biotechnology, Inc. $PBYI

Key Points

• Ritholtz Wealth Management has invested approximately $676,000 in Puma Biotechnology, acquiring 196,985 shares during the second quarter.
• Other institutional investors have also increased their holdings in Puma Biotechnology, leading to a total institutional ownership of 61.29% of the company's stock.
• Equity research analysts have upgraded Puma Biotechnology, with a consensus rating of "Buy" and an average target price of $7.00.

Ritholtz Wealth Management acquired a new position in Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 196,985 shares of the biopharmaceutical company's stock, valued at approximately $676,000. Ritholtz Wealth Management owned 0.40% of Puma Biotechnology as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the business. Acadian Asset Management LLC lifted its stake in shares of Puma Biotechnology by 1.8% in the 1st quarter. Acadian Asset Management LLC now owns 2,008,146 shares of the biopharmaceutical company's stock worth $5,940,000 after purchasing an additional 36,018 shares during the period. American Century Companies Inc. lifted its stake in shares of Puma Biotechnology by 21.2% in the 1st quarter. American Century Companies Inc. now owns 1,149,660 shares of the biopharmaceutical company's stock worth $3,403,000 after purchasing an additional 201,284 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its stake 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 purchasing an additional 344,321 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Puma Biotechnology by 2.7% in the 1st 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 during the period. Finally, Federated Hermes Inc. lifted its stake in shares of Puma Biotechnology by 22.8% in the 1st quarter. Federated Hermes Inc. now owns 200,962 shares of the biopharmaceutical company's stock worth $595,000 after purchasing an additional 37,321 shares during the period. Institutional investors own 61.29% of the company's stock.

Puma Biotechnology Trading Up 1.1%

Shares of PBYI opened at $5.47 on Friday. The company has a debt-to-equity ratio of 0.10, a current ratio of 1.73 and a quick ratio of 1.62. Puma Biotechnology, Inc. has a 1 year low of $2.32 and a 1 year high of $6.07. The company has a 50 day simple moving average of $5.00 and a two-hundred day simple moving average of $3.86. The firm has a market cap of $275.53 million, a P/E ratio of 5.58 and a beta of 1.39.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Wall Street Zen raised shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a report on Friday, September 5th. Weiss Ratings raised shares of Puma Biotechnology from a "hold (c+)" rating to a "buy (b-)" rating in a report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Puma Biotechnology presently has a consensus rating of "Buy" and an average target price of $7.00.

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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