Jeffrey Jerome Ludwig Sells 9,437 Shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) Stock

Puma Biotechnology, Inc. (NASDAQ:PBYI - Get Free Report) insider Jeffrey Jerome Ludwig sold 9,437 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total value of $29,726.55. Following the completion of the transaction, the insider now owns 108,951 shares in the company, valued at $343,195.65. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Puma Biotechnology Stock Down 5.4 %

Shares of PBYI traded down $0.17 during trading hours on Friday, hitting $2.95. 844,494 shares of the company were exchanged, compared to its average volume of 763,397. The firm's 50 day moving average is $2.99 and its 200-day moving average is $2.98. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.40 and a current ratio of 1.42. Puma Biotechnology, Inc. has a 52 week low of $2.22 and a 52 week high of $7.73. The company has a market cap of $144.81 million, a PE ratio of 6.15 and a beta of 1.08.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last announced its quarterly earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The company had revenue of $80.50 million for the quarter, compared to the consensus estimate of $71.32 million. During the same quarter last year, the company posted $0.12 earnings per share. On average, equities research analysts forecast that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PBYI. Bank of New York Mellon Corp grew its position in shares of Puma Biotechnology by 63.6% in the second quarter. Bank of New York Mellon Corp now owns 308,997 shares of the biopharmaceutical company's stock valued at $1,007,000 after purchasing an additional 120,104 shares during the last quarter. Rhumbline Advisers boosted its stake in Puma Biotechnology by 2,309.9% during the 2nd quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company's stock valued at $164,000 after purchasing an additional 48,184 shares during the period. Victory Capital Management Inc. acquired a new stake in Puma Biotechnology in the 2nd quarter valued at approximately $54,000. Rice Hall James & Associates LLC increased its position in Puma Biotechnology by 3.3% in the 2nd quarter. Rice Hall James & Associates LLC now owns 144,792 shares of the biopharmaceutical company's stock worth $472,000 after buying an additional 4,686 shares during the period. Finally, American Century Companies Inc. lifted its holdings 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 worth $2,409,000 after buying an additional 366,653 shares during the last quarter. Institutional investors own 61.29% of the company's stock.

Wall Street Analyst Weigh In

A number of 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 Friday, December 6th. HC Wainwright reaffirmed a "buy" rating and issued a $7.00 price objective on shares of Puma Biotechnology in a research note on Monday, December 23rd.

Puma Biotechnology Company 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.