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

Puma Biotechnology, Inc. (NASDAQ:PBYI) passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.27 and traded as high as $6.98. Puma Biotechnology shares last traded at $6.88, with a volume of 410,370 shares trading hands.

Analyst Ratings Changes

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

Puma Biotechnology Price Performance

The company has a market cap of $346.68 million, a price-to-earnings ratio of 9.30 and a beta of 1.22. The company’s 50-day simple moving average is $6.11 and its 200-day simple moving average is $5.27.

Insiders Place Their Bets

In other news, CEO Alan H. Auerbach sold 18,012 shares of Puma Biotechnology stock in a transaction dated Wednesday, January 7th. The stock was sold at an average price of $5.88, for a total transaction of $105,910.56. Following the sale, the chief executive officer directly owned 7,145,951 shares of the company’s stock, valued at approximately $42,018,191.88. The trade was a 0.25% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Douglas M. Hunt sold 5,014 shares of Puma Biotechnology 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 sale, the insider owned 155,907 shares in the company, valued at $916,733.16. This represents a 3.12% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 43,937 shares of company stock valued at $257,513. Company insiders own 23.30% of the company’s stock.

Institutional Trading of Puma Biotechnology

A number of hedge funds and other institutional investors have recently made changes to their positions in PBYI. Acorn Capital Advisors LLC raised its holdings in Puma Biotechnology by 4.9% in the second 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 in the last quarter. American Century Companies Inc. increased its position in shares of Puma Biotechnology by 16.8% in the 2nd quarter. American Century Companies Inc. now owns 1,342,275 shares of the biopharmaceutical company’s stock worth $4,604,000 after purchasing an additional 192,615 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in shares of Puma Biotechnology by 10.6% in the 3rd quarter. Dimensional Fund Advisors LP now owns 1,271,878 shares of the biopharmaceutical company’s stock valued at $6,752,000 after purchasing an additional 121,838 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Puma Biotechnology by 1.1% during the fourth quarter. Geode Capital Management LLC now owns 994,345 shares of the biopharmaceutical company’s stock worth $5,917,000 after purchasing an additional 10,823 shares during the last quarter. Finally, Kennedy Capital Management LLC grew its stake in Puma Biotechnology by 8.3% in the second quarter. Kennedy Capital Management LLC now owns 987,001 shares of the biopharmaceutical company’s stock worth $3,385,000 after purchasing an additional 75,878 shares in the last quarter. 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.