Insider Selling: Puma Biotechnology (NASDAQ:PBYI) Director Sells $566,808.00 in Stock

Key Points

• Director Alessandra Cesano sold 62,150 Puma Biotechnology shares at an average price of $9.12, generating $566,808. The transaction, conducted under a Rule 10b5-1 plan, reduced her direct stake by 52.29% to 56,700 shares.
• Puma shares rose 1.5% to $9.39, near their 52-week high of $9.73. The company recently reported quarterly EPS of $0.19, beating the $0.04 analyst consensus, while revenue reached $56.5 million.
• Analyst sentiment remains mixed, with the stock carrying an overall “Hold” rating and a $6.00 consensus price target, despite some upgrades. Institutional investors own 61.29% of the company.

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) Director Alessandra Cesano sold 62,150 shares of Puma Biotechnology stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $9.12, for a total transaction of $566,808.00. Following the transaction, the director directly owned 56,700 shares in the company, valued at approximately $517,104. This represents a 52.29% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Trading Up 1.5%

Shares of PBYI stock traded up $0.14 during trading on Wednesday, hitting $9.39. The company's stock had a trading volume of 188,827 shares, compared to its average volume of 288,825. The company has a market cap of $484.71 million, a PE ratio of 18.06 and a beta of 1.24. The business has a fifty day moving average of $8.71 and a 200-day moving average of $7.65. Puma Biotechnology, Inc. has a 52 week low of $4.30 and a 52 week high of $9.73.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported $0.19 EPS for the quarter, topping analysts' consensus estimates of $0.04 by $0.15. The business had revenue of $56.50 million for the quarter, compared to analyst estimates of $53.00 million. Puma Biotechnology had a return on equity of 20.76% and a net margin of 11.50%. As a group, research analysts predict that Puma Biotechnology, Inc. will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on PBYI shares. Weiss Ratings raised shares of Puma Biotechnology from a "hold (c)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. TD Cowen raised their price target on shares of Puma Biotechnology from $5.00 to $6.00 and gave the stock a "hold" rating in a research note on Friday, August 7th. Finally, Wall Street Zen raised shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $6.00.

Institutional Investors Weigh In On Puma Biotechnology

Large investors have recently added to or reduced their stakes in the company. Kathmere Capital Management LLC grew its position in Puma Biotechnology by 9.8% in the first quarter. Kathmere Capital Management LLC now owns 29,779 shares of the biopharmaceutical company's stock worth $190,000 after acquiring an additional 2,648 shares in the last quarter. Baron Wealth Management LLC raised its position in Puma Biotechnology by 8.2% during the first quarter. Baron Wealth Management LLC now owns 38,278 shares of the biopharmaceutical company's stock valued at $245,000 after purchasing an additional 2,886 shares in the last quarter. Royal Bank of Canada lifted its stake in Puma Biotechnology by 244.5% during the first quarter. Royal Bank of Canada now owns 4,320 shares of the biopharmaceutical company's stock worth $28,000 after purchasing an additional 3,066 shares during the last quarter. Legal & General Group Plc bought a new stake in Puma Biotechnology during the second quarter worth about $35,000. Finally, Philadelphia Investment Partners LLC purchased a new position in shares of Puma Biotechnology in the 2nd quarter worth about $65,000. Hedge funds and other institutional investors own 61.29% of the company's stock.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a biopharmaceutical company focused on developing and commercializing medicines for the treatment of cancer. The company's primary product is NERLYNX (neratinib), an oral tyrosine kinase inhibitor designed to target HER2 and other members of the human epidermal growth factor receptor family.

In the United States, NERLYNX is approved for the extended adjuvant treatment of adults with early-stage HER2-positive breast cancer following postoperative trastuzumab-based therapy.

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