Troy Edward Wilson Sells 5,000 Shares of Puma Biotechnology (NASDAQ:PBYI) Stock

Key Points

• Director Troy Edward Wilson sold 5,000 Puma Biotechnology shares at an average price of $9.10, generating $45,500. The Rule 10b5-1 transaction reduced his holdings by 8.37% to 54,750 shares.
• Puma Biotechnology shares recently traded at $9.39, near their 12-month high of $9.73, with a market capitalization of approximately $484.7 million.
• The company exceeded quarterly expectations, reporting $0.19 in earnings per share versus a $0.04 consensus estimate and $56.5 million in revenue. Analysts maintain a consensus “Hold” rating with a $6.00 price target, while institutional investors own 61.29% of the stock.

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) Director Troy Wilson sold 5,000 shares of the company's stock in a transaction on Monday, September 14th. The stock was sold at an average price of $9.10, for a total transaction of $45,500.00. Following the completion of the sale, the director owned 54,750 shares of the company's stock, valued at approximately $498,225. The trade was a 8.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Puma Biotechnology Price Performance

Shares of PBYI stock traded up $0.14 on Wednesday, hitting $9.39. The stock had a trading volume of 188,827 shares, compared to its average volume of 288,825. The business has a 50 day moving average of $8.71 and a 200 day moving average of $7.65. Puma Biotechnology, Inc. has a 12-month low of $4.30 and a 12-month high of $9.73. The stock has a market cap of $484.71 million, a price-to-earnings ratio of 18.06 and a beta of 1.24.

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

Institutional Trading of Puma Biotechnology

Large investors have recently bought and sold shares of the company. Spark Investment Management LLC bought a new position in shares of Puma Biotechnology during the 2nd quarter worth $138,000. Wellington Management Group LLP purchased a new stake in Puma Biotechnology during the second quarter valued at about $1,023,000. Empowered Funds LLC bought a new position in Puma Biotechnology during the second quarter worth about $1,787,000. Philadelphia Investment Partners LLC purchased a new position in shares of Puma Biotechnology in the second quarter worth about $65,000. Finally, Bank of America Corp DE bought a new stake in shares of Puma Biotechnology in the second quarter valued at approximately $257,000. 61.29% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. TD Cowen boosted their target price on Puma Biotechnology from $5.00 to $6.00 and gave the stock a "hold" rating in a research note on Friday, August 7th. Wall Street Zen upgraded shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 15th. Finally, 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. Two investment analysts have rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $6.00.

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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