Insider Selling: Puma Biotechnology (NASDAQ:PBYI) Insider Sells 8,460 Shares of Stock

Key Points

• Insider sale: Puma Biotechnology insider Douglas Hunt sold 8,460 shares at an average price of $8.26, totaling about $69,880. The transaction was made under a pre-arranged Rule 10b5-1 trading plan.
• Stock performance: PBYI traded up 2.1% to $8.13, near its 52-week high of $8.44. The stock has a market cap of about $413.8 million and has been trading above its 50-day and 200-day moving averages.
• Recent fundamentals and sentiment: Puma Biotechnology recently beat quarterly earnings and revenue expectations, reporting a smaller-than-expected loss and stronger-than-expected sales. Analysts currently have a consensus rating of Hold.

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) insider Douglas Hunt sold 8,460 shares of the company's stock in a transaction dated Monday, July 6th. The shares were sold at an average price of $8.26, for a total transaction of $69,879.60. Following the sale, the insider directly owned 196,841 shares of the company's stock, valued at approximately $1,625,906.66. This represents a 4.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Trading Up 2.1%

PBYI stock traded up $0.17 during mid-day trading on Wednesday, reaching $8.13. The company's stock had a trading volume of 426,504 shares, compared to its average volume of 328,965. The company's 50 day moving average is $7.40 and its two-hundred day moving average is $6.87. Puma Biotechnology, Inc. has a fifty-two week low of $3.03 and a fifty-two week high of $8.44. The stock has a market cap of $413.82 million, a PE ratio of 16.94 and a beta of 1.20.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.04) earnings per share for the quarter, topping the consensus estimate of ($0.13) by $0.09. The business had revenue of $44.81 million for the quarter, compared to analysts' expectations of $42.00 million. Puma Biotechnology had a return on equity of 20.30% and a net margin of 10.69%. On average, analysts forecast that Puma Biotechnology, Inc. will post 0.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

PBYI has been the subject of a number of recent research reports. Weiss Ratings downgraded Puma Biotechnology from a "hold (c+)" rating to a "hold (c)" rating in a research note on Monday, May 11th. Wall Street Zen cut shares of Puma Biotechnology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, May 16th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PBYI. Royal Bank of Canada increased 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 acquiring an additional 3,066 shares during the last quarter. Cerity Partners LLC acquired a new position in shares of Puma Biotechnology in the 2nd quarter valued at $36,000. BNP Paribas Financial Markets grew its holdings in shares of Puma Biotechnology by 39.7% during the 3rd quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company's stock worth $43,000 after purchasing an additional 2,290 shares during the period. China Universal Asset Management Co. Ltd. purchased a new position in shares of Puma Biotechnology during the 4th quarter worth $49,000. Finally, State of Alaska Department of Revenue acquired a new stake in shares of Puma Biotechnology during the 4th quarter worth about $50,000. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company's lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.

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