Marathon Trading Investment Management LLC Trims Stock Holdings in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Marathon Trading Investment Management LLC lowered its stake in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) by 79.7% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 14,236 shares of the biopharmaceutical company’s stock after selling 56,064 shares during the period. Marathon Trading Investment Management LLC’s holdings in Puma Biotechnology were worth $46,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PBYI. Victory Capital Management Inc. acquired a new stake in shares of Puma Biotechnology during the 2nd quarter worth about $54,000. SG Americas Securities LLC purchased a new position in shares of Puma Biotechnology during the first quarter valued at approximately $57,000. Crestline Management LP boosted its position in Puma Biotechnology by 6.5% during the fourth quarter. Crestline Management LP now owns 34,774 shares of the biopharmaceutical company’s stock worth $151,000 after acquiring an additional 2,135 shares during the last quarter. Rhumbline Advisers grew its stake in Puma Biotechnology by 2,309.9% in the 2nd quarter. Rhumbline Advisers now owns 50,270 shares of the biopharmaceutical company’s stock worth $164,000 after acquiring an additional 48,184 shares during the period. Finally, Jump Financial LLC raised its holdings in Puma Biotechnology by 131.7% in the 4th quarter. Jump Financial LLC now owns 57,200 shares of the biopharmaceutical company’s stock valued at $248,000 after acquiring an additional 32,510 shares during the last quarter. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. StockNews.com downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, August 13th. HC Wainwright restated a “buy” rating and issued a $7.00 price target on shares of Puma Biotechnology in a report on Friday, August 2nd.

Insider Transactions at Puma Biotechnology

In other news, Director Michael Patrick Miller sold 23,358 shares of the business’s stock in a transaction dated Monday, August 12th. The stock was sold at an average price of $3.49, for a total transaction of $81,519.42. Following the completion of the sale, the director now owns 47,000 shares in the company, valued at approximately $164,030. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Michael Patrick Miller sold 23,358 shares of Puma Biotechnology stock in a transaction on Monday, August 12th. The shares were sold at an average price of $3.49, for a total transaction of $81,519.42. Following the transaction, the director now owns 47,000 shares in the company, valued at approximately $164,030. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Auerbach sold 21,920 shares of the stock in a transaction on Wednesday, July 17th. The shares were sold at an average price of $3.70, for a total value of $81,104.00. Following the completion of the sale, the chief executive officer now owns 7,063,515 shares of the company’s stock, valued at $26,135,005.50. The disclosure for this sale can be found here. Insiders have sold a total of 82,263 shares of company stock worth $286,469 in the last three months. 23.70% of the stock is currently owned by company insiders.

Puma Biotechnology Stock Performance

Shares of PBYI stock opened at $2.50 on Thursday. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.23 and a current ratio of 1.32. The firm has a market capitalization of $120.60 million, a price-to-earnings ratio of 7.58 and a beta of 1.09. Puma Biotechnology, Inc. has a one year low of $2.13 and a one year high of $7.73. The company has a 50 day moving average price of $3.09 and a 200 day moving average price of $3.97.

Puma Biotechnology (NASDAQ:PBYI) last released its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.01. Puma Biotechnology had a return on equity of 18.36% and a net margin of 4.01%. The business had revenue of $47.10 million during the quarter, compared to the consensus estimate of $43.99 million. During the same period in the prior year, the firm posted $0.05 EPS. Sell-side analysts anticipate that Puma Biotechnology, Inc. will post 0.25 EPS for the current year.

Puma Biotechnology 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.