Puma Biotechnology (NASDAQ:PBYI) Shares Cross Below 200 Day Moving Average of $4.83

Puma Biotechnology, Inc. (NASDAQ:PBYI) shares passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $4.83 and traded as low as $2.87. Puma Biotechnology shares last traded at $2.92, with a volume of 232,789 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on PBYI shares. HC Wainwright reiterated a “buy” rating and issued a $7.00 price objective on shares of Puma Biotechnology in a research report on Monday, June 3rd. StockNews.com raised Puma Biotechnology from a “hold” rating to a “buy” rating in a research note on Wednesday, June 12th.

Puma Biotechnology Stock Performance

The stock has a 50 day moving average price of $4.22 and a two-hundred day moving average price of $4.83. The company has a current ratio of 1.46, a quick ratio of 1.38 and a debt-to-equity ratio of 1.07. The company has a market cap of $140.86 million, a price-to-earnings ratio of 8.85 and a beta of 1.04.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings data on Thursday, May 2nd. The biopharmaceutical company reported ($0.10) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.12. The business had revenue of $43.80 million for the quarter, compared to the consensus estimate of $41.53 million. Puma Biotechnology had a return on equity of 35.49% and a net margin of 6.79%. Analysts predict that Puma Biotechnology, Inc. will post 0.22 EPS for the current year.

Insider Buying and Selling

In related news, Director Troy Edward Wilson sold 27,000 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $3.33, for a total transaction of $89,910.00. Following the sale, the director now owns 350 shares of the company’s stock, valued at approximately $1,165.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 23.70% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Puma Biotechnology

Large investors have recently added to or reduced their stakes in the company. Great Point Partners LLC bought a new position in Puma Biotechnology during the 4th quarter worth about $4,734,000. Jump Financial LLC increased its holdings in Puma Biotechnology by 131.7% during the 4th quarter. Jump Financial LLC now owns 57,200 shares of the biopharmaceutical company’s stock worth $248,000 after purchasing an additional 32,510 shares in the last quarter. Citigroup Inc. bought a new position in Puma Biotechnology during the 3rd quarter worth about $262,000. Assenagon Asset Management S.A. grew its holdings in shares of Puma Biotechnology by 23.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 85,039 shares of the biopharmaceutical company’s stock valued at $368,000 after acquiring an additional 15,897 shares in the last quarter. Finally, Ritholtz Wealth Management bought a new position in shares of Puma Biotechnology in the 4th quarter valued at about $66,000. Institutional investors own 61.29% of the company’s stock.

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.