Wall Street Zen downgraded shares of Puma Biotechnology (NASDAQ:PBYI - Free Report) from a strong-buy rating to a hold rating in a report published on Saturday.
Puma Biotechnology Price Performance
Puma Biotechnology stock traded up $0.29 during mid-day trading on Friday, reaching $5.16. 727,577 shares of the company's stock traded hands, compared to its average volume of 451,306. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 0.10. Puma Biotechnology has a 12-month low of $2.22 and a 12-month high of $5.33. The company has a market cap of $259.66 million, a price-to-earnings ratio of 5.26 and a beta of 1.30. The stock has a 50 day moving average of $3.48 and a two-hundred day moving average of $3.23.
Insider Transactions at Puma Biotechnology
In other Puma Biotechnology news, Director Alessandra Cesano sold 27,000 shares of the stock in a transaction dated Friday, July 18th. The shares were sold at an average price of $3.37, for a total transaction of $90,990.00. Following the transaction, the director directly owned 41,850 shares in the company, valued at $141,034.50. This represents a 39.22% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan H. Auerbach sold 25,592 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $3.53, for a total transaction of $90,339.76. Following the sale, the chief executive officer directly owned 7,202,481 shares of the company's stock, valued at approximately $25,424,757.93. The trade was a 0.35% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 173,649 shares of company stock valued at $596,914. Company insiders own 23.30% of the company's stock.
Hedge Funds Weigh In On Puma Biotechnology
Hedge funds and other institutional investors have recently modified their holdings of the stock. Acorn Capital Advisors LLC acquired a new position in Puma Biotechnology in the 4th quarter worth approximately $7,475,000. LSV Asset Management grew its stake in Puma Biotechnology by 903.3% in the 2nd quarter. LSV Asset Management now owns 535,740 shares of the biopharmaceutical company's stock valued at $1,838,000 after acquiring an additional 482,340 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in 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 valued at $2,462,000 after acquiring an additional 344,321 shares during the period. Kennedy Capital Management LLC lifted its holdings in Puma Biotechnology by 36.5% in the 4th quarter. Kennedy Capital Management LLC now owns 809,375 shares of the biopharmaceutical company's stock valued at $2,469,000 after purchasing an additional 216,329 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in 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 valued at $3,403,000 after purchasing an additional 201,284 shares in the last quarter. 61.29% of the stock is owned by hedge funds and other institutional investors.
Puma Biotechnology Company Profile
(
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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.
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