Puma Biotechnology (NASDAQ:PBYI) Share Price Passes Above Two Hundred Day Moving Average – Should You Sell?

Puma Biotechnology, Inc. (NASDAQ:PBYI) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $5.42 and traded as high as $6.90. Puma Biotechnology shares last traded at $6.75, with a volume of 415,287 shares changing hands.

Wall Street Analysts Forecast Growth

PBYI has been the subject of a number of research analyst reports. Wall Street Zen lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Saturday, November 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Puma Biotechnology in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $7.00.

Puma Biotechnology Stock Down 1.0%

The company has a market capitalization of $340.14 million, a P/E ratio of 9.12 and a beta of 1.22. The business has a 50 day simple moving average of $6.29 and a 200-day simple moving average of $5.42.

Insider Activity at Puma Biotechnology

In other news, CEO Alan H. Auerbach sold 18,012 shares of the stock in a transaction on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total value of $105,910.56. Following the completion of the transaction, the chief executive officer owned 7,145,951 shares of the company’s stock, valued at approximately $42,018,191.88. This represents a 0.25% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Douglas M. Hunt sold 5,014 shares of the firm’s stock in a transaction on Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total value of $29,482.32. Following the transaction, the insider directly owned 155,907 shares in the company, valued at $916,733.16. This trade represents a 3.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 43,937 shares of company stock worth $257,513 in the last 90 days. 23.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Puma Biotechnology

Institutional investors and hedge funds have recently bought and sold shares of the stock. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Puma Biotechnology by 405.0% during the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 198,508 shares of the biopharmaceutical company’s stock valued at $1,054,000 after buying an additional 159,200 shares in the last quarter. Acorn Capital Advisors LLC lifted its holdings in Puma Biotechnology by 4.9% in the 2nd quarter. Acorn Capital Advisors LLC now owns 4,131,299 shares of the biopharmaceutical company’s stock valued at $14,170,000 after acquiring an additional 191,247 shares during the last quarter. Ritholtz Wealth Management boosted its position in shares of Puma Biotechnology by 139.0% during the 3rd quarter. Ritholtz Wealth Management now owns 470,767 shares of the biopharmaceutical company’s stock valued at $2,500,000 after purchasing an additional 273,782 shares in the last quarter. Ethic Inc. bought a new position in shares of Puma Biotechnology during the 2nd quarter valued at about $51,000. Finally, Connor Clark & Lunn Investment Management Ltd. grew its stake in shares of Puma Biotechnology by 8.2% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 900,256 shares of the biopharmaceutical company’s stock worth $3,088,000 after purchasing an additional 68,567 shares during the last quarter. Institutional investors own 61.29% of the company’s stock.

Puma Biotechnology Company Profile

Puma Biotechnology, Inc is a late‐stage biopharmaceutical company dedicated to the development and commercialization of targeted therapies for oncology patients. Founded in 2010 and headquartered in Los Angeles, California, the company focuses on advancing molecularly defined cancer treatments that address significant unmet medical needs.

The company’s lead product is neratinib, marketed under the brand name Nerlynx in the United States. Neratinib is an irreversible small‐molecule tyrosine kinase inhibitor designed to target the HER2 receptor, and it received FDA approval in 2017 for extended adjuvant treatment of early‐stage HER2-positive breast cancer.