Insider Selling: Puma Biotechnology, Inc. (NASDAQ:PBYI) CEO Sells 21,580 Shares of Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) CEO Alan H. Auerbach sold 21,580 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $3.54, for a total transaction of $76,393.20. Following the transaction, the chief executive officer directly owned 7,180,901 shares of the company's stock, valued at approximately $25,420,389.54. This trade represents a 0.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Puma Biotechnology Trading Down 3.7%

PBYI stock traded down $0.13 during trading on Friday, reaching $3.39. The company had a trading volume of 300,719 shares, compared to its average volume of 414,077. Puma Biotechnology, Inc. has a 52 week low of $2.23 and a 52 week high of $4.13. The company has a market cap of $168.25 million, a P/E ratio of 4.40 and a beta of 1.29. The business has a 50 day moving average of $3.37 and a 200 day moving average of $3.18. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.53 and a quick ratio of 1.43.

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently made changes to their positions in the business. Wells Fargo & Company MN increased its stake in shares of Puma Biotechnology by 36.5% during the fourth quarter. Wells Fargo & Company MN now owns 22,929 shares of the biopharmaceutical company's stock valued at $70,000 after purchasing an additional 6,126 shares in the last quarter. Mackenzie Financial Corp bought a new position in shares of Puma Biotechnology during the fourth quarter valued at approximately $240,000. Bank of New York Mellon Corp increased its stake in shares of Puma Biotechnology by 19.5% during the fourth quarter. Bank of New York Mellon Corp now owns 331,853 shares of the biopharmaceutical company's stock valued at $1,012,000 after purchasing an additional 54,150 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Puma Biotechnology by 8.4% during the fourth quarter. American Century Companies Inc. now owns 948,376 shares of the biopharmaceutical company's stock valued at $2,893,000 after purchasing an additional 73,833 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Puma Biotechnology by 182.3% during the fourth quarter. JPMorgan Chase & Co. now owns 136,897 shares of the biopharmaceutical company's stock valued at $418,000 after purchasing an additional 88,404 shares in the last quarter. Institutional investors own 61.29% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd.

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.