The Manufacturers Life Insurance Company Makes New Investment in Puma Biotechnology, Inc. (NASDAQ:PBYI)

The Manufacturers Life Insurance Company acquired a new stake in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 17,765 shares of the biopharmaceutical company’s stock, valued at approximately $58,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Affinity Asset Advisors LLC purchased a new stake in Puma Biotechnology in the 2nd quarter worth $815,000. Squarepoint Ops LLC boosted its stake in shares of Puma Biotechnology by 17.7% in the second quarter. Squarepoint Ops LLC now owns 71,391 shares of the biopharmaceutical company’s stock worth $233,000 after acquiring an additional 10,757 shares during the period. Great Point Partners LLC boosted its stake in shares of Puma Biotechnology by 10.6% in the second quarter. Great Point Partners LLC now owns 1,486,544 shares of the biopharmaceutical company’s stock worth $4,846,000 after acquiring an additional 142,916 shares during the period. Renaissance Technologies LLC raised its stake in Puma Biotechnology by 1.4% during the 2nd quarter. Renaissance Technologies LLC now owns 1,753,013 shares of the biopharmaceutical company’s stock valued at $5,715,000 after purchasing an additional 23,600 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in Puma Biotechnology by 6.6% during the 2nd quarter. Dimensional Fund Advisors LP now owns 605,977 shares of the biopharmaceutical company’s stock valued at $1,975,000 after purchasing an additional 37,684 shares during the period. 61.29% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, Director Michael Patrick Miller sold 23,358 shares of Puma Biotechnology stock in a transaction that occurred on Monday, August 12th. The stock was sold at an average price of $3.49, for a total value of $81,519.42. Following the completion of the transaction, the director now owns 47,000 shares in the company, valued at approximately $164,030. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 23.70% of the stock is currently owned by company insiders.

Puma Biotechnology Trading Down 2.4 %

Shares of PBYI stock opened at $2.81 on Tuesday. The company has a current ratio of 1.32, a quick ratio of 1.23 and a debt-to-equity ratio of 0.90. The stock has a market capitalization of $135.55 million, a price-to-earnings ratio of 8.52 and a beta of 1.09. Puma Biotechnology, Inc. has a 12-month low of $2.13 and a 12-month high of $7.73. The stock’s 50-day moving average price is $2.61 and its 200-day moving average price is $3.54.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on PBYI. StockNews.com downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, August 13th. HC Wainwright restated a “buy” rating and set a $7.00 target price on shares of Puma Biotechnology in a research report on Friday, August 2nd.

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.