Puma Biotechnology (NASDAQ:PBYI) Downgraded to Hold Rating by Wall Street Zen

Key Points

• Puma Biotechnology was downgraded from a "strong-buy" to a "hold" rating by Wall Street Zen, following the release of their latest research report.
• The company's stock saw an increase of 12.2%, with a current market capitalization of $183.13 million.
• Insiders sold a total of 173,649 shares of Puma Biotechnology over the last 90 days, indicating significant selling activity among company executives.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) was downgraded by Wall Street Zen from a "strong-buy" rating to a "hold" rating in a research report issued to clients and investors on Saturday.

Puma Biotechnology Stock Up 12.2%

NASDAQ PBYI opened at $3.69 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.53 and a quick ratio of 1.43. The stock has a market capitalization of $183.13 million, a PE ratio of 3.77 and a beta of 1.30. Puma Biotechnology has a 1 year low of $2.22 and a 1 year high of $4.06. The business's 50-day moving average is $3.41 and its 200 day moving average is $3.20.

Insider Buying and Selling

In other Puma Biotechnology news, Director Adrian Senderowicz sold 27,000 shares of the business's stock in a transaction on Friday, June 13th. The shares were sold at an average price of $3.40, for a total transaction of $91,800.00. Following the completion of the sale, the director directly owned 27,000 shares in the company, valued at approximately $91,800. The trade was a 50.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Allison Dorval sold 11,610 shares of the company's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $3.40, for a total transaction of $39,474.00. Following the completion of the transaction, the director directly owned 75,390 shares of the company's stock, valued at $256,326. This represents a 13.34% decrease in their position. The disclosure for this sale can be found here. Insiders sold 173,649 shares of company stock worth $596,914 over the last 90 days. 23.30% of the stock is currently owned by company insiders.

Institutional Trading of Puma Biotechnology

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PBYI. D Orazio & Associates Inc. purchased a new position in shares of Puma Biotechnology during the second quarter worth approximately $52,000. Geode Capital Management LLC lifted its stake in shares of Puma Biotechnology by 1.7% during the second quarter. Geode Capital Management LLC now owns 971,674 shares of the biopharmaceutical company's stock worth $3,333,000 after buying an additional 16,218 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Puma Biotechnology by 8.2% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 900,256 shares of the biopharmaceutical company's stock valued at $3,088,000 after purchasing an additional 68,567 shares during the period. Los Angeles Capital Management LLC lifted its position in Puma Biotechnology by 9.5% during the second quarter. Los Angeles Capital Management LLC now owns 445,477 shares of the biopharmaceutical company's stock valued at $1,528,000 after purchasing an additional 38,623 shares during the period. Finally, Prospera Financial Services Inc increased its holdings in Puma Biotechnology by 3.8% in the second quarter. Prospera Financial Services Inc now owns 191,244 shares of the biopharmaceutical company's stock valued at $656,000 after buying an additional 6,987 shares in the last quarter. 61.29% of the stock is owned by hedge funds and other institutional investors.

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.

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