Puma Biotechnology (NASDAQ:PBYI) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Puma Biotechnology's rating has been upgraded from "buy" to "strong-buy" by Wall Street Zen, indicating increased investor confidence.
• The company's stock opened at $5.03 on Friday and has a market cap of $253.36 million, with a notable 12-month price fluctuation between $2.22 and $6.07.
• Insider trading activity has shown significant sales, with directors reducing their positions—total insider sales amount to $596,914 over the last 90 days.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "buy" rating to a "strong-buy" rating in a report issued on Friday.

Puma Biotechnology Stock Down 1.6%

Shares of NASDAQ:PBYI opened at $5.03 on Friday. The firm has a market cap of $253.36 million, a P/E ratio of 5.13 and a beta of 1.38. 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 $6.07. The business has a fifty day simple moving average of $4.09 and a 200 day simple moving average of $3.51.

Insider Buying and Selling at Puma Biotechnology

In related news, Director Alessandra Cesano sold 27,000 shares of the firm's stock in a transaction on Friday, July 18th. The stock was sold at an average price of $3.37, for a total transaction of $90,990.00. Following the completion of the transaction, the director directly owned 41,850 shares of the company's stock, valued at $141,034.50. This trade represents a 39.22% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Adrian Senderowicz sold 27,000 shares of the firm's stock in a transaction on Friday, June 13th. The stock was sold at an average price of $3.40, for a total value of $91,800.00. Following the transaction, the director directly owned 27,000 shares of the company's stock, valued at approximately $91,800. This represents a 50.00% decrease in their ownership of the stock. 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. Company insiders own 23.30% of the company's stock.

Institutional Trading of Puma Biotechnology

A number of large investors have recently bought and sold shares of PBYI. Tower Research Capital LLC TRC grew its holdings in Puma Biotechnology by 167.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,137 shares of the biopharmaceutical company's stock worth $31,000 after acquiring an additional 6,351 shares during the period. CWM LLC grew its holdings in Puma Biotechnology by 214.1% during the 2nd quarter. CWM LLC now owns 9,462 shares of the biopharmaceutical company's stock worth $32,000 after acquiring an additional 6,450 shares during the period. Graham Capital Management L.P. acquired a new stake in Puma Biotechnology during the 4th quarter worth about $33,000. ProShare Advisors LLC acquired a new stake in Puma Biotechnology during the 4th quarter worth about $36,000. Finally, Cerity Partners LLC acquired a new stake in Puma Biotechnology during the 2nd quarter worth about $36,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.

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.

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