Puma Biotechnology (NASDAQ:PBYI) Shares Pass Above Two Hundred Day Moving Average - Here's What Happened

Key Points

• Puma Biotechnology's stock (NASDAQ:PBYI) recently crossed above its 200-day moving average, reaching a high of $5.26 before last trading at $5.18.
• Equities research analysts have upgraded the stock's rating, with Wall Street Zen moving it from a "buy" to a "strong-buy" and an average price target set at $7.00.
• Insider trading activity showed that Director Alessandra Cesano sold 27,000 shares at an average price of $3.37, now holding 41,850 shares valued at approximately $141,034.50.

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $3.74 and traded as high as $5.26. Puma Biotechnology shares last traded at $5.18, with a volume of 432,340 shares.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Wall Street Zen upgraded Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research report on Friday, September 5th. Weiss Ratings reissued a "hold (c+)" rating on shares of Puma Biotechnology in a research note on Saturday, September 27th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $7.00.

Puma Biotechnology Price Performance

The stock has a 50 day moving average of $4.67 and a two-hundred day moving average of $3.74. The company has a debt-to-equity ratio of 0.10, a quick ratio of 1.62 and a current ratio of 1.73. The firm has a market capitalization of $260.92 million, a P/E ratio of 5.29 and a beta of 1.39.

Insider Buying and Selling

In other Puma Biotechnology news, Director Alessandra Cesano sold 27,000 shares of Puma Biotechnology stock in a transaction that occurred on Friday, July 18th. The stock was sold at an average price of $3.37, for a total value of $90,990.00. Following the transaction, the director directly owned 41,850 shares of the company's stock, valued at $141,034.50. The trade was a 39.22% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 23.30% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Royal Bank of Canada increased its position in Puma Biotechnology by 3.8% in the 1st quarter. Royal Bank of Canada now owns 85,999 shares of the biopharmaceutical company's stock worth $254,000 after buying an additional 3,117 shares during the period. C2C Wealth Management LLC increased its position in Puma Biotechnology by 36.1% in the 2nd quarter. C2C Wealth Management LLC now owns 20,620 shares of the biopharmaceutical company's stock worth $71,000 after buying an additional 5,470 shares during the period. CWM LLC increased its position in Puma Biotechnology by 214.1% in the 2nd quarter. CWM LLC now owns 9,462 shares of the biopharmaceutical company's stock worth $32,000 after buying an additional 6,450 shares during the period. Prospera Financial Services Inc grew its holdings in shares of Puma Biotechnology by 3.8% during the 2nd quarter. Prospera Financial Services Inc now owns 191,244 shares of the biopharmaceutical company's stock worth $656,000 after purchasing an additional 6,987 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Puma Biotechnology by 2.7% during the 1st quarter. Bank of New York Mellon Corp now owns 340,886 shares of the biopharmaceutical company's stock worth $1,009,000 after purchasing an additional 9,033 shares in the last quarter. 61.29% of the stock is owned by 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.

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