Cubist Systematic Strategies LLC Buys Shares of 32,615 Puma Biotechnology, Inc. (NASDAQ:PBYI)

Cubist Systematic Strategies LLC bought a new stake in Puma Biotechnology, Inc. (NASDAQ:PBYI) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 32,615 shares of the biopharmaceutical company’s stock, valued at approximately $99,000. Cubist Systematic Strategies LLC owned about 0.07% of Puma Biotechnology as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. lifted its stake in Puma Biotechnology by 169.5% in the third quarter. JPMorgan Chase & Co. now owns 48,493 shares of the biopharmaceutical company’s stock valued at $124,000 after acquiring an additional 30,499 shares during the last quarter. SG Americas Securities LLC lifted its stake in Puma Biotechnology by 83.9% in the fourth quarter. SG Americas Securities LLC now owns 24,668 shares of the biopharmaceutical company’s stock valued at $75,000 after acquiring an additional 11,252 shares during the last quarter. Barclays PLC lifted its stake in Puma Biotechnology by 146.5% in the third quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company’s stock valued at $199,000 after acquiring an additional 46,370 shares during the last quarter. Wells Fargo & Company MN lifted its stake in Puma Biotechnology by 36.5% in the fourth quarter. Wells Fargo & Company MN now owns 22,929 shares of the biopharmaceutical company’s stock valued at $70,000 after acquiring an additional 6,126 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in Puma Biotechnology by 19.5% in the fourth quarter. Bank of New York Mellon Corp now owns 331,853 shares of the biopharmaceutical company’s stock valued at $1,012,000 after acquiring an additional 54,150 shares during the last quarter. 61.29% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PBYI. StockNews.com upgraded shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Sunday, May 11th. HC Wainwright restated a “buy” rating and issued a $7.00 price objective on shares of Puma Biotechnology in a research note on Friday, February 28th.

Puma Biotechnology Price Performance

Shares of Puma Biotechnology stock opened at $3.58 on Tuesday. The firm has a fifty day simple moving average of $3.07 and a 200-day simple moving average of $3.06. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. Puma Biotechnology, Inc. has a 1-year low of $2.23 and a 1-year high of $4.83. The stock has a market capitalization of $177.68 million, a price-to-earnings ratio of 7.46 and a beta of 1.29.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.29. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. The business had revenue of $59.10 million for the quarter, compared to analyst estimates of $52.50 million. On average, sell-side analysts expect that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

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.