Great Point Partners LLC Boosts Stock Position in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Great Point Partners LLC raised its stake in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) by 10.6% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,486,544 shares of the biopharmaceutical company’s stock after buying an additional 142,916 shares during the quarter. Puma Biotechnology comprises about 0.9% of Great Point Partners LLC’s investment portfolio, making the stock its 29th biggest holding. Great Point Partners LLC owned about 3.08% of Puma Biotechnology worth $4,846,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. SG Americas Securities LLC bought a new position in shares of Puma Biotechnology during the first quarter valued at $57,000. Victory Capital Management Inc. purchased a new stake in Puma Biotechnology during the 2nd quarter valued at about $54,000. Crestline Management LP increased its stake in Puma Biotechnology by 6.5% during the 4th quarter. Crestline Management LP now owns 34,774 shares of the biopharmaceutical company’s stock valued at $151,000 after purchasing an additional 2,135 shares in the last quarter. Lazard Asset Management LLC raised its holdings in Puma Biotechnology by 5,129.0% in the first quarter. Lazard Asset Management LLC now owns 49,466 shares of the biopharmaceutical company’s stock worth $262,000 after buying an additional 48,520 shares during the last quarter. Finally, Rhumbline Advisers lifted its stake in shares of Puma Biotechnology by 2,309.9% in the second quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock worth $164,000 after buying an additional 48,184 shares in the last quarter. 61.29% of the stock is owned by institutional investors.

Insider Transactions at Puma Biotechnology

In related news, Director Michael Patrick Miller sold 23,358 shares of the company’s stock in a transaction on Monday, August 12th. The stock was sold at an average price of $3.49, for a total transaction of $81,519.42. Following the completion of the sale, the director now owns 47,000 shares in the company, valued at $164,030. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Puma Biotechnology news, CEO Alan H. Auerbach sold 21,920 shares of the stock in a transaction that occurred on Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total value of $81,104.00. Following the transaction, the chief executive officer now directly owns 7,063,515 shares in the company, valued at $26,135,005.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Michael Patrick Miller sold 23,358 shares of the business’s stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the sale, the director now directly owns 47,000 shares of the company’s stock, valued at approximately $164,030. The disclosure for this sale can be found here. Insiders have sold a total of 82,263 shares of company stock worth $286,469 in the last ninety days. Insiders own 23.70% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. StockNews.com downgraded shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 13th. HC Wainwright reiterated a “buy” rating and set a $7.00 target price on shares of Puma Biotechnology in a research note on Friday, August 2nd.

Puma Biotechnology Price Performance

Shares of NASDAQ:PBYI opened at $2.55 on Tuesday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.23 and a current ratio of 1.32. The firm has a market cap of $123.01 million, a price-to-earnings ratio of 7.73 and a beta of 1.09. The business has a 50-day simple moving average of $3.03 and a two-hundred day simple moving average of $3.90. Puma Biotechnology, Inc. has a fifty-two week low of $2.13 and a fifty-two week high of $7.73.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.01. Puma Biotechnology had a net margin of 4.01% and a return on equity of 18.36%. The company had revenue of $47.10 million for the quarter, compared to the consensus estimate of $43.99 million. During the same quarter in the prior year, the firm earned $0.05 earnings per share. On average, analysts expect that Puma Biotechnology, Inc. will post 0.25 earnings per share for the current year.

Puma Biotechnology Profile

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.