JPMorgan Chase & Co. Acquires 88,404 Shares of Puma Biotechnology, Inc. (NASDAQ:PBYI)

JPMorgan Chase & Co. lifted its holdings in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) by 182.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 136,897 shares of the biopharmaceutical company's stock after buying an additional 88,404 shares during the period. JPMorgan Chase & Co. owned approximately 0.28% of Puma Biotechnology worth $418,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Gateway Wealth Partners LLC purchased a new stake in shares of Puma Biotechnology during the 4th quarter valued at about $31,000. Franklin Resources Inc. purchased a new stake in Puma Biotechnology in the third quarter worth approximately $41,000. Virtu Financial LLC bought a new stake in Puma Biotechnology in the 3rd quarter worth approximately $68,000. SG Americas Securities LLC raised its stake in Puma Biotechnology by 83.9% during the 4th quarter. SG Americas Securities LLC now owns 24,668 shares of the biopharmaceutical company's stock valued at $75,000 after buying an additional 11,252 shares during the last quarter. Finally, LPL Financial LLC lifted its holdings in shares of Puma Biotechnology by 23.6% during the 4th quarter. LPL Financial LLC now owns 26,567 shares of the biopharmaceutical company's stock valued at $81,000 after buying an additional 5,080 shares during the period. Hedge funds and other institutional investors own 61.29% of the company's stock.

Puma Biotechnology Price Performance

Shares of PBYI traded up $0.01 during trading hours on Wednesday, reaching $2.99. 412,665 shares of the stock traded hands, compared to its average volume of 440,443. Puma Biotechnology, Inc. has a 52-week low of $2.23 and a 52-week high of $5.20. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The company has a market cap of $148.40 million, a P/E ratio of 6.23 and a beta of 1.29. The company's 50-day moving average price is $3.12 and its two-hundred day moving average price is $3.04.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last announced its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.10 by $0.29. The company had revenue of $59.10 million for the quarter, compared to the consensus estimate of $52.50 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. On average, analysts anticipate that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently weighed in on PBYI. HC Wainwright reiterated a "buy" rating and issued a $7.00 price objective on shares of Puma Biotechnology in a research note on Friday, February 28th. StockNews.com cut shares of Puma Biotechnology from a "strong-buy" rating to a "buy" rating in a research note on Saturday.

About Puma Biotechnology

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.