Puma Biotechnology (NASDAQ:PBYI) Stock Crosses Above 200 Day Moving Average - Here's What Happened

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report)'s stock price passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.18 and traded as high as $3.49. Puma Biotechnology shares last traded at $3.45, with a volume of 218,155 shares changing hands.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research report on Thursday, May 22nd.

Puma Biotechnology Stock Performance

The stock's 50-day moving average is $3.40 and its 200-day moving average is $3.19. The firm has a market capitalization of $167.00 million, a price-to-earnings ratio of 4.38 and a beta of 1.29. The company has a current ratio of 1.53, a quick ratio of 1.43 and a debt-to-equity ratio of 0.11.

Insider Transactions at Puma Biotechnology

In related news, Director Allison Dorval sold 11,610 shares of the firm's stock in a transaction dated Friday, June 13th. The shares were sold at an average price of $3.40, for a total transaction of $39,474.00. Following the completion of the sale, the director owned 75,390 shares in the company, valued at approximately $256,326. This trade represents a 13.34% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Adrian Senderowicz sold 27,000 shares of Puma Biotechnology stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $3.40, for a total transaction of $91,800.00. Following the completion of the transaction, the director owned 27,000 shares of the company's stock, valued at $91,800. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 146,649 shares of company stock valued at $505,924. Corporate insiders own 23.30% of the company's stock.

Hedge Funds Weigh In On Puma Biotechnology

A number of large investors have recently modified their holdings of the company. Acorn Capital Advisors LLC purchased a new position in Puma Biotechnology in the 4th quarter worth approximately $7,475,000. Acadian Asset Management LLC boosted its position in Puma Biotechnology by 1.8% during the 1st quarter. Acadian Asset Management LLC now owns 2,008,146 shares of the biopharmaceutical company's stock valued at $5,940,000 after buying an additional 36,018 shares during the period. American Century Companies Inc. boosted its position in Puma Biotechnology by 21.2% during 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 buying an additional 201,284 shares during the period. Dimensional Fund Advisors LP raised its holdings in Puma Biotechnology by 24.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company's stock worth $2,635,000 after purchasing an additional 170,968 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its holdings 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 worth $2,462,000 after purchasing an additional 344,321 shares in the last quarter. 61.29% of the stock is currently owned by 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.