Puma Biotechnology (NASDAQ:PBYI) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Puma Biotechnology, Inc. (NASDAQ:PBYI)’s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $5.76 and traded as high as $6.23. Puma Biotechnology shares last traded at $6.13, with a volume of 182,822 shares changing hands.

Analysts Set New Price Targets

Several brokerages recently commented on PBYI. Wall Street Zen raised Puma Biotechnology from a “buy” rating to a “strong-buy” rating in a research note on Saturday, March 21st. Weiss Ratings reiterated a “hold (c+)” rating on shares of Puma Biotechnology in a research note on Thursday, January 22nd. One analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Puma Biotechnology Price Performance

The company has a market capitalization of $311.89 million, a price-to-earnings ratio of 10.05 and a beta of 1.27. The business has a fifty day moving average price of $6.52 and a 200 day moving average price of $5.76.

Puma Biotechnology (NASDAQ:PBYI) last announced its earnings results on Thursday, February 26th. The biopharmaceutical company reported $0.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.24 by $0.02. The business had revenue of $75.50 million for the quarter, compared to analyst estimates of $68.60 million. Puma Biotechnology had a net margin of 13.62% and a return on equity of 27.80%. As a group, sell-side analysts predict that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current fiscal year.

Insider Buying and Selling at Puma Biotechnology

In related news, insider Douglas M. Hunt sold 5,014 shares of the stock in a transaction dated Wednesday, January 7th. The shares were sold at an average price of $5.88, for a total value of $29,482.32. Following the completion of the sale, the insider owned 155,907 shares in the company, valued at approximately $916,733.16. This trade represents a 3.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 value of $105,910.56. Following the sale, the chief executive officer directly owned 7,145,951 shares in the company, valued at approximately $42,018,191.88. This trade represents a 0.25% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 43,937 shares of company stock worth $257,513 over the last 90 days. Company insiders own 23.30% of the company’s stock.

Institutional Trading of Puma Biotechnology

Hedge funds have recently modified their holdings of the company. BNP Paribas Financial Markets increased its position in shares of Puma Biotechnology by 39.7% during the third quarter. BNP Paribas Financial Markets now owns 8,056 shares of the biopharmaceutical company’s stock valued at $43,000 after purchasing an additional 2,290 shares during the period. China Universal Asset Management Co. Ltd. bought a new position in Puma Biotechnology in the fourth quarter worth $49,000. State of Alaska Department of Revenue bought a new position in Puma Biotechnology in the fourth quarter worth $50,000. ProShare Advisors LLC acquired a new stake in Puma Biotechnology during the fourth quarter worth $60,000. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in Puma Biotechnology in the 4th quarter valued at $59,000. Institutional investors own 61.29% of the company’s stock.

Puma Biotechnology Company Profile

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.