Russell Investments Group Ltd. Grows Stock Holdings in Puma Biotechnology, Inc. $PBYI

Russell Investments Group Ltd. raised its stake in Puma Biotechnology, Inc. (NASDAQ:PBYI) by 104,365.0% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 20,893 shares of the biopharmaceutical company’s stock after buying an additional 20,873 shares during the period. Russell Investments Group Ltd.’s holdings in Puma Biotechnology were worth $62,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PBYI. Nuveen LLC purchased a new position in Puma Biotechnology in the 1st quarter valued at approximately $234,000. Virtu Financial LLC purchased a new position in shares of Puma Biotechnology in the first quarter valued at $93,000. Invesco Ltd. raised its stake in shares of Puma Biotechnology by 88.9% during the 1st quarter. Invesco Ltd. now owns 37,631 shares of the biopharmaceutical company’s stock worth $111,000 after buying an additional 17,707 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of Puma Biotechnology by 70.6% in the 1st quarter. Connor Clark & Lunn Investment Management Ltd. now owns 831,689 shares of the biopharmaceutical company’s stock worth $2,462,000 after buying an additional 344,321 shares in the last quarter. Finally, Deutsche Bank AG acquired a new stake in Puma Biotechnology in the 1st quarter valued at about $91,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating in a research report on Sunday, August 17th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $7.00.

Puma Biotechnology Price Performance

Shares of NASDAQ:PBYI opened at $5.11 on Friday. The company has a market cap of $257.39 million, a P/E ratio of 5.21 and a beta of 1.38. The business has a fifty day simple moving average of $4.05 and a 200-day simple moving average of $3.49. Puma Biotechnology, Inc. has a 52 week low of $2.22 and a 52 week high of $6.07. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 0.10.

Insiders Place Their Bets

In related news, Director Allison Dorval sold 11,610 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 value of $39,474.00. Following the transaction, the director directly owned 75,390 shares of the company’s stock, valued at approximately $256,326. This trade represents a 13.34% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jay M. Moyes sold 22,000 shares of the company’s stock in a transaction dated Friday, June 13th. The stock was sold at an average price of $3.40, for a total value of $74,800.00. Following the sale, the director owned 53,322 shares of the company’s stock, valued at $181,294.80. This represents a 29.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 173,649 shares of company stock valued at $596,914. 23.30% of the stock is currently owned by corporate insiders.

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.