The Manufacturers Life Insurance Company Takes $58,000 Position in Puma Biotechnology, Inc. (NASDAQ:PBYI)

The Manufacturers Life Insurance Company purchased a new position in Puma Biotechnology, Inc. (NASDAQ:PBYI) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 17,765 shares of the biopharmaceutical company’s stock, valued at approximately $58,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in PBYI. Affinity Asset Advisors LLC purchased a new stake in shares of Puma Biotechnology during the second quarter valued at approximately $815,000. SG Americas Securities LLC bought a new position in shares of Puma Biotechnology during the first quarter valued at $57,000. O Shaughnessy Asset Management LLC lifted its holdings in shares of Puma Biotechnology by 127.7% during the first quarter. O Shaughnessy Asset Management LLC now owns 77,081 shares of the biopharmaceutical company’s stock valued at $409,000 after purchasing an additional 43,229 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Puma Biotechnology by 98.5% during the second quarter. American Century Companies Inc. now owns 738,902 shares of the biopharmaceutical company’s stock valued at $2,409,000 after buying an additional 366,653 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in Puma Biotechnology by 99.9% in the 2nd quarter. Assenagon Asset Management S.A. now owns 140,205 shares of the biopharmaceutical company’s stock worth $457,000 after buying an additional 70,060 shares in the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Insider Buying and Selling

In other Puma Biotechnology news, Director Michael Patrick Miller sold 23,358 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 23.70% of the stock is currently owned by insiders.

Puma Biotechnology Stock Performance

PBYI stock opened at $2.81 on Tuesday. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.32 and a quick ratio of 1.23. Puma Biotechnology, Inc. has a 1 year low of $2.13 and a 1 year high of $7.73. The company has a market cap of $135.55 million, a P/E ratio of 8.52 and a beta of 1.09. The stock’s fifty day moving average price is $2.61 and its 200-day moving average price is $3.54.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results 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. The company had revenue of $47.10 million for the quarter, compared to the consensus estimate of $43.99 million. Puma Biotechnology had a return on equity of 18.36% and a net margin of 4.01%. During the same quarter in the prior year, the company earned $0.05 earnings per share. On average, equities analysts forecast that Puma Biotechnology, Inc. will post 0.25 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. StockNews.com cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a research report on Friday, August 2nd.

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.