Virtus Advisers LLC Takes Position in Puma Biotechnology, Inc. $PBYI

Key Points

• Virtus Advisers LLC has acquired a new position in Puma Biotechnology, purchasing 55,431 shares valued at approximately $164,000 during Q1.
• Several institutional investors, including MetLife Investment Management LLC and American Century Companies Inc., have either newly invested or increased their stakes in Puma Biotechnology.
• Wall Street Zen upgraded the stock from a "hold" to a "buy" rating, reflecting improved investor confidence and a consensus price target of $7.00.

Virtus Advisers LLC acquired a new position in Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 55,431 shares of the biopharmaceutical company's stock, valued at approximately $164,000. Virtus Advisers LLC owned about 0.11% of Puma Biotechnology at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the stock. LPL Financial LLC lifted its stake in Puma Biotechnology by 23.6% during the fourth quarter. LPL Financial LLC now owns 26,567 shares of the biopharmaceutical company's stock worth $81,000 after purchasing an additional 5,080 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Puma Biotechnology by 42.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 19,083 shares of the biopharmaceutical company's stock worth $59,000 after buying an additional 5,726 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Puma Biotechnology by 36.5% during the 4th quarter. Wells Fargo & Company MN now owns 22,929 shares of the biopharmaceutical company's stock worth $70,000 after buying an additional 6,126 shares during the period. Tower Research Capital LLC TRC boosted its stake in Puma Biotechnology by 167.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 6,351 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in Puma Biotechnology by 9.7% in the fourth quarter. BNP Paribas Financial Markets now owns 74,301 shares of the biopharmaceutical company's stock valued at $227,000 after acquiring an additional 6,599 shares during the period. 61.29% of the stock is currently owned by institutional investors and hedge funds.

Puma Biotechnology Price Performance

NASDAQ:PBYI traded down $0.13 during mid-day trading on Thursday, reaching $4.97. 415,474 shares of the company were exchanged, compared to its average volume of 960,415. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 0.10. The stock has a market cap of $250.34 million, a PE ratio of 5.07 and a beta of 1.30. Puma Biotechnology, Inc. has a 12 month low of $2.22 and a 12 month high of $6.07. The company has a fifty day moving average of $3.88 and a 200 day moving average of $3.41.

Insider Buying and Selling at Puma Biotechnology

In related news, Director Adrian Senderowicz sold 27,000 shares of the firm's stock in a transaction that occurred on Friday, June 13th. The shares were sold at an average price of $3.40, for a total value of $91,800.00. Following the completion of the sale, the director owned 27,000 shares of the company's stock, valued at $91,800. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Alessandra Cesano sold 27,000 shares of the business's 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 owned 41,850 shares of the company's stock, valued at $141,034.50. This trade represents a 39.22% decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,649 shares of company stock valued at $596,914 over the last three months. Insiders own 23.30% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen raised Puma Biotechnology from a "hold" rating to a "buy" rating in a report on Sunday, August 17th. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average price target of $7.00.

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.