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

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) shares crossed 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 trading hands.

Analyst Upgrades and Downgrades

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

Puma Biotechnology Price Performance

The stock's 50 day moving average price is $3.40 and its 200-day moving average price is $3.19. The company has a quick ratio of 1.43, a current ratio of 1.53 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $170.73 million, a PE ratio of 4.47 and a beta of 1.29.

Insider Activity at Puma Biotechnology

In other Puma Biotechnology news, CEO Alan H. Auerbach sold 21,580 shares of the company's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $3.54, for a total value of $76,393.20. Following the transaction, the chief executive officer directly owned 7,180,901 shares in the company, valued at $25,420,389.54. This represents a 0.30% decrease in their position. The sale was disclosed in a legal filing 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 that occurred on Friday, June 13th. The stock was sold at an average price of $3.40, for a total transaction of $91,800.00. Following the transaction, the director directly owned 27,000 shares in the company, valued at approximately $91,800. This trade represents a 50.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 146,649 shares of company stock worth $505,924 over the last ninety days. 23.30% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PBYI. Acorn Capital Advisors LLC bought a new position in shares of Puma Biotechnology during the 4th quarter worth $7,475,000. Acadian Asset Management LLC lifted its stake in Puma Biotechnology by 1.8% in the first quarter. Acadian Asset Management LLC now owns 2,008,146 shares of the biopharmaceutical company's stock worth $5,940,000 after acquiring an additional 36,018 shares during the period. American Century Companies Inc. lifted its stake in Puma Biotechnology by 21.2% in the first quarter. American Century Companies Inc. now owns 1,149,660 shares of the biopharmaceutical company's stock worth $3,403,000 after acquiring an additional 201,284 shares during the period. Dimensional Fund Advisors LP grew its holdings in Puma Biotechnology by 24.7% during the 4th quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company's stock worth $2,635,000 after acquiring an additional 170,968 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. increased its position in Puma Biotechnology by 70.6% during 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 purchasing an additional 344,321 shares during the period. 61.29% of the stock is currently owned by hedge funds and other institutional investors.

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.