Marshall Wace LLP Trims Stake in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Marshall Wace LLP cut its position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) by 16.1% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 200,085 shares of the biopharmaceutical company’s stock after selling 38,406 shares during the period. Marshall Wace LLP owned about 0.41% of Puma Biotechnology worth $652,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Victory Capital Management Inc. purchased a new stake in Puma Biotechnology in the second quarter worth about $54,000. SG Americas Securities LLC bought a new position in shares of Puma Biotechnology during the first quarter valued at approximately $57,000. Rhumbline Advisers increased its holdings in Puma Biotechnology by 2,309.9% during the second quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock valued at $164,000 after buying an additional 48,184 shares during the period. Lazard Asset Management LLC raised its stake 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 in the last quarter. Finally, EntryPoint Capital LLC purchased a new stake in Puma Biotechnology during the first quarter worth $329,000. Institutional investors own 61.29% of the company’s stock.

Insider Transactions at Puma Biotechnology

In related 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 completion of the transaction, the chief executive officer now directly owns 7,063,515 shares of the company’s stock, valued at $26,135,005.50. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, Director Michael Patrick Miller sold 23,358 shares of the stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.49, for a total value of $81,519.42. Following the transaction, the director now directly owns 47,000 shares of the company’s stock, valued at approximately $164,030. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Auerbach sold 21,920 shares of the firm’s stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $3.70, for a total value of $81,104.00. Following the completion of the transaction, the chief executive officer now owns 7,063,515 shares of the company’s stock, valued at approximately $26,135,005.50. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 52,032 shares of company stock worth $187,613. Insiders own 23.70% of the company’s stock.

Puma Biotechnology Trading Down 1.5 %

NASDAQ:PBYI opened at $2.62 on Wednesday. The firm has a 50 day moving average of $2.77 and a 200 day moving average of $3.70. The company has a quick ratio of 1.23, a current ratio of 1.32 and a debt-to-equity ratio of 0.90. Puma Biotechnology, Inc. has a 52 week low of $2.13 and a 52 week high of $7.73. The stock has a market capitalization of $126.39 million, a price-to-earnings ratio of 7.94 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Puma Biotechnology had a return on equity of 18.36% and a net margin of 4.01%. The firm had revenue of $47.10 million during the quarter, compared to analysts’ expectations of $43.99 million. During the same quarter last year, the firm earned $0.05 EPS. As a group, sell-side analysts anticipate that Puma Biotechnology, Inc. will post 0.25 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on PBYI. StockNews.com lowered 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 issued a $7.00 target price on shares of Puma Biotechnology in a report on Friday, August 2nd.

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.