Puma Biotechnology, Inc. (NASDAQ:PBYI) Insider Douglas M. Hunt Sells 4,374 Shares

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) insider Douglas M. Hunt sold 4,374 shares of the company's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $3.53, for a total transaction of $15,440.22. Following the completion of the transaction, the insider owned 168,337 shares in the company, valued at $594,229.61. This represents a 2.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Puma Biotechnology Stock Down 3.7%

Shares of PBYI traded down $0.13 during mid-day trading on Friday, hitting $3.39. The company's stock had a trading volume of 300,719 shares, compared to its average volume of 414,077. The company's 50-day moving average is $3.37 and its 200-day moving average is $3.18. Puma Biotechnology, Inc. has a 52-week low of $2.23 and a 52-week high of $4.13. The firm has a market capitalization of $168.25 million, a price-to-earnings ratio of 4.40 and a beta of 1.29. The company has a current ratio of 1.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.11.

Institutional Investors Weigh In On Puma Biotechnology

Several hedge funds have recently modified their holdings of PBYI. Acorn Capital Advisors LLC purchased a new stake in shares of Puma Biotechnology in the 4th quarter worth approximately $7,475,000. Connor Clark & Lunn Investment Management Ltd. lifted its position 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. Kennedy Capital Management LLC lifted its position in shares of Puma Biotechnology by 36.5% in the 4th quarter. Kennedy Capital Management LLC now owns 809,375 shares of the biopharmaceutical company's stock worth $2,469,000 after purchasing an additional 216,329 shares during the period. American Century Companies Inc. lifted its position 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. Finally, Dimensional Fund Advisors LP lifted its position in shares of Puma Biotechnology by 24.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company's stock worth $2,635,000 after purchasing an additional 170,968 shares during the period. Hedge funds and other institutional investors own 61.29% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded 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.