Puma Biotechnology (NASDAQ:PBYI) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Shares of 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 $3.19 and traded as high as $3.36. Puma Biotechnology shares last traded at $3.18, with a volume of 323,932 shares changing hands.

Analyst Upgrades and Downgrades

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

Puma Biotechnology Stock Performance

The company has a market cap of $152.36 million, a P/E ratio of 3.99 and a beta of 1.29. The company has a 50 day moving average price of $3.42 and a 200-day moving average price of $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.

Insider Buying and Selling

In related news, Director Jay M. Moyes sold 22,000 shares of the firm's stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $3.40, for a total transaction of $74,800.00. Following the completion of the transaction, the director owned 53,322 shares of the company's stock, valued at $181,294.80. This trade represents a 29.21% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $39,474.00. Following 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. In the last 90 days, insiders have sold 173,649 shares of company stock valued at $596,914. Company insiders own 23.30% of the company's stock.

Institutional Investors Weigh In On Puma Biotechnology

Several hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC raised its stake in shares of 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 purchasing an additional 6,351 shares in the last quarter. CWM LLC grew its holdings in shares of 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 purchasing an additional 6,450 shares in the last quarter. Graham Capital Management L.P. acquired a new stake in Puma Biotechnology in the 4th quarter valued at $33,000. ProShare Advisors LLC bought a new position in Puma Biotechnology in the 4th quarter valued at $36,000. Finally, Causeway Capital Management LLC bought a new position in Puma Biotechnology in the 1st quarter valued at $42,000. 61.29% of the stock is 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.