Goldman Sachs Group Inc. Has $871,000 Position in Puma Biotechnology, Inc. $PBYI

Goldman Sachs Group Inc. lowered its stake in Puma Biotechnology, Inc. (NASDAQ:PBYI) by 6.3% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 294,243 shares of the biopharmaceutical company’s stock after selling 19,854 shares during the period. Goldman Sachs Group Inc. owned 0.59% of Puma Biotechnology worth $871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. ProShare Advisors LLC acquired a new stake in shares of Puma Biotechnology in the fourth quarter valued at approximately $36,000. Causeway Capital Management LLC acquired a new stake in shares of Puma Biotechnology in the first quarter valued at approximately $42,000. PFG Investments LLC acquired a new stake in shares of Puma Biotechnology in the first quarter valued at approximately $59,000. Hsbc Holdings PLC acquired a new stake in Puma Biotechnology during the 1st quarter worth $61,000. Finally, Russell Investments Group Ltd. grew its holdings in Puma Biotechnology by 104,365.0% during the 1st quarter. Russell Investments Group Ltd. now owns 20,893 shares of the biopharmaceutical company’s stock worth $62,000 after acquiring an additional 20,873 shares during the period. Institutional investors and hedge funds own 61.29% of the company’s stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a report on Friday, September 5th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, Puma Biotechnology presently has a consensus rating of “Buy” and an average target price of $7.00.

Puma Biotechnology Stock Performance

Shares of NASDAQ:PBYI opened at $4.46 on Tuesday. The company’s 50 day moving average price is $4.31 and its two-hundred day moving average price is $3.61. Puma Biotechnology, Inc. has a 12-month low of $2.32 and a 12-month high of $6.07. The firm has a market cap of $224.65 million, a PE ratio of 4.55 and a beta of 1.37. The company has a quick ratio of 1.62, a current ratio of 1.73 and a debt-to-equity ratio of 0.10.

Insider Activity at Puma Biotechnology

In related news, Director Alessandra Cesano sold 27,000 shares of the stock in a transaction that occurred on Friday, July 18th. The shares were sold at an average price of $3.37, for a total transaction of $90,990.00. Following the sale, the director owned 41,850 shares in the company, valued at approximately $141,034.50. This trade represents a 39.22% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Alan H. Auerbach sold 21,580 shares of the stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $3.54, for a total transaction of $76,393.20. Following the sale, the chief executive officer owned 7,180,901 shares in the company, valued at $25,420,389.54. This represents a 0.30% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 81,989 shares of company stock worth $285,351 in the last quarter. 23.30% of the stock is currently owned by company 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.