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

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $3.12 and traded as high as $3.38. Puma Biotechnology shares last traded at $3.35, with a volume of 323,078 shares trading hands.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PBYI shares. Wall Street Zen upgraded shares of Puma Biotechnology from a "buy" rating to a "strong-buy" rating in a research note on Thursday, May 22nd. HC Wainwright restated a "buy" rating and set a $7.00 price target on shares of Puma Biotechnology in a research note on Friday, February 28th.

Puma Biotechnology Price Performance

The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.43 and a current ratio of 1.53. The firm has a market cap of $164.28 million, a price-to-earnings ratio of 4.30 and a beta of 1.29. The stock's 50 day simple moving average is $3.25 and its 200-day simple moving average is $3.13.

Insider Transactions at Puma Biotechnology

In other news, Director Jay M. Moyes sold 22,000 shares of the stock in a transaction on Friday, June 13th. The shares were sold at an average price of $3.40, for a total value of $74,800.00. Following the sale, the director now owns 53,322 shares in the company, valued at $181,294.80. This represents a 29.21% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Adrian Senderowicz sold 27,000 shares of the stock in a transaction 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 completion of the sale, the director now owns 27,000 shares in the company, valued at $91,800. The trade was a 50.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 91,660 shares of company stock worth $311,563 over the last 90 days. 23.30% of the stock is currently owned by company insiders.

Institutional Trading of Puma Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Strs Ohio purchased a new stake in Puma Biotechnology during the first quarter worth $420,000. Acadian Asset Management LLC boosted its holdings in Puma Biotechnology by 1.8% during the first quarter. Acadian Asset Management LLC now owns 2,008,146 shares of the biopharmaceutical company's stock worth $5,940,000 after buying an additional 36,018 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in Puma Biotechnology during the first quarter worth $66,000. AQR Capital Management LLC boosted its holdings in Puma Biotechnology by 366.5% during the first quarter. AQR Capital Management LLC now owns 50,458 shares of the biopharmaceutical company's stock worth $149,000 after buying an additional 39,641 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in Puma Biotechnology by 3.8% during the first 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 in the last quarter. Institutional investors and hedge funds own 61.29% of the company's stock.

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.