Puma Biotechnology (NASDAQ:PBYI) Share Price Passes Above Two Hundred Day Moving Average – Here’s Why

Puma Biotechnology, Inc. (NASDAQ:PBYI)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $5.67 and traded as high as $6.13. Puma Biotechnology shares last traded at $6.07, with a volume of 227,113 shares traded.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Puma Biotechnology in a research note on Thursday, January 22nd. Wall Street Zen upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating in a research report on Sunday, March 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, Puma Biotechnology presently has an average rating of “Hold”.

Puma Biotechnology Price Performance

The firm’s 50 day moving average price is $6.53 and its two-hundred day moving average price is $5.67. The firm has a market cap of $308.84 million, a price-to-earnings ratio of 9.95 and a beta of 1.27.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.24 by $0.02. The firm had revenue of $75.50 million for the quarter, compared to analysts’ expectations of $68.60 million. Puma Biotechnology had a return on equity of 27.80% and a net margin of 13.62%. On average, analysts anticipate that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Douglas M. Hunt sold 5,014 shares of the business’s stock in a transaction that occurred on Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total value of $29,482.32. Following the transaction, the insider owned 155,907 shares of the company’s stock, valued at approximately $916,733.16. The trade was a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Alan H. Auerbach sold 18,012 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer owned 7,145,951 shares of the company’s stock, valued at $42,018,191.88. This trade represents a 0.25% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 43,937 shares of company stock worth $257,513. Corporate insiders own 23.30% of the company’s stock.

Hedge Funds Weigh In On Puma Biotechnology

A number of large investors have recently bought and sold shares of the company. Russell Investments Group Ltd. boosted its holdings in shares of Puma Biotechnology by 4,823,365.0% in the third quarter. Russell Investments Group Ltd. now owns 964,693 shares of the biopharmaceutical company’s stock valued at $5,123,000 after acquiring an additional 964,673 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in Puma Biotechnology by 238.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 793,962 shares of the biopharmaceutical company’s stock worth $4,724,000 after purchasing an additional 559,345 shares in the last quarter. AQR Capital Management LLC lifted its position in Puma Biotechnology by 410.1% in the fourth quarter. AQR Capital Management LLC now owns 666,605 shares of the biopharmaceutical company’s stock valued at $3,966,000 after purchasing an additional 535,933 shares during the period. LSV Asset Management lifted its position in Puma Biotechnology by 903.3% in the second quarter. LSV Asset Management now owns 535,740 shares of the biopharmaceutical company’s stock valued at $1,838,000 after purchasing an additional 482,340 shares during the period. Finally, Bridgeway Capital Management LLC boosted its holdings in Puma Biotechnology by 78.4% in the 4th quarter. Bridgeway Capital Management LLC now owns 773,485 shares of the biopharmaceutical company’s stock valued at $4,602,000 after purchasing an additional 339,924 shares in the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

About Puma Biotechnology

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.