Connor Clark & Lunn Investment Management Ltd. Increases Position in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Connor Clark & Lunn Investment Management Ltd. grew its stake in Puma Biotechnology, Inc. (NASDAQ:PBYI - Free Report) by 32.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 487,368 shares of the biopharmaceutical company's stock after acquiring an additional 118,913 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned about 0.99% of Puma Biotechnology worth $1,486,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in PBYI. Victory Capital Management Inc. boosted its position in shares of Puma Biotechnology by 111.9% in the 3rd quarter. Victory Capital Management Inc. now owns 35,097 shares of the biopharmaceutical company's stock worth $89,000 after purchasing an additional 18,532 shares in the last quarter. Royce & Associates LP boosted its position in shares of Puma Biotechnology by 71.8% in the 3rd quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company's stock worth $51,000 after purchasing an additional 8,427 shares in the last quarter. Prospera Financial Services Inc boosted its position in shares of Puma Biotechnology by 12.9% in the 3rd quarter. Prospera Financial Services Inc now owns 168,885 shares of the biopharmaceutical company's stock worth $431,000 after purchasing an additional 19,315 shares in the last quarter. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Puma Biotechnology in the 3rd quarter worth $44,000. Finally, Advantage Alpha Capital Partners LP acquired a new stake in shares of Puma Biotechnology in the 3rd quarter worth $276,000. Institutional investors and hedge funds own 61.29% of the company's stock.

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Analysts Set New Price Targets

A number of analysts have recently weighed in on PBYI shares. HC Wainwright reissued a "buy" rating and issued a $7.00 price objective on shares of Puma Biotechnology in a research report on Friday, February 28th. StockNews.com cut Puma Biotechnology from a "strong-buy" rating to a "buy" rating in a research report on Saturday, March 8th.

Insiders Place Their Bets

In other Puma Biotechnology news, CEO Alan H. Auerbach sold 33,841 shares of Puma Biotechnology stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $106,599.15. Following the completion of the transaction, the chief executive officer now owns 7,029,674 shares in the company, valued at approximately $22,143,473.10. This trade represents a 0.48 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Jeffrey Jerome Ludwig sold 9,437 shares of Puma Biotechnology 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 transaction, the insider now owns 108,951 shares of the company's stock, valued at $343,195.65. The trade was a 7.97 % decrease in their position. The disclosure for this sale can be found here. 23.70% of the stock is currently owned by insiders.

Puma Biotechnology Stock Performance

PBYI traded up $0.10 on Friday, reaching $3.51. 569,459 shares of the stock were exchanged, compared to its average volume of 442,828. The company's 50-day moving average price is $3.09 and its 200 day moving average price is $2.94. Puma Biotechnology, Inc. has a fifty-two week low of $2.23 and a fifty-two week high of $6.06. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40. The firm has a market capitalization of $174.13 million, a PE ratio of 7.31 and a beta of 1.33.

Puma Biotechnology (NASDAQ:PBYI - Get Free Report) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.10 by $0.29. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The company had revenue of $59.10 million during the quarter, compared to analysts' expectations of $52.50 million. As a group, sell-side analysts forecast that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

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.