Puma Biotechnology (NASDAQ:PBYI) Rating Increased to Strong-Buy at StockNews.com

Puma Biotechnology (NASDAQ:PBYIGet Free Report) was upgraded by equities researchers at StockNews.com from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

Puma Biotechnology Stock Up 0.4 %

PBYI stock opened at $5.04 on Tuesday. The company has a debt-to-equity ratio of 1.98, a current ratio of 1.86 and a quick ratio of 1.78. The stock has a market capitalization of $239.75 million, a price-to-earnings ratio of 63.00, a PEG ratio of 1.69 and a beta of 1.25. The business’s fifty day moving average price is $4.47 and its two-hundred day moving average price is $3.66. Puma Biotechnology has a fifty-two week low of $2.13 and a fifty-two week high of $5.67.

Insiders Place Their Bets

In other news, insider Alvin F. Wong sold 7,733 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $4.49, for a total transaction of $34,721.17. Following the sale, the insider now directly owns 98,214 shares of the company’s stock, valued at approximately $440,980.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Alvin F. Wong sold 7,733 shares of the stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $4.49, for a total transaction of $34,721.17. Following the sale, the insider now directly owns 98,214 shares of the company’s stock, valued at approximately $440,980.86. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Alan H. Auerbach sold 41,396 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $4.49, for a total value of $185,868.04. Following the completion of the sale, the chief executive officer now directly owns 6,936,947 shares in the company, valued at $31,146,892.03. The disclosure for this sale can be found here. Insiders have sold 64,811 shares of company stock worth $291,001 in the last 90 days. Company insiders own 22.70% of the company’s stock.

Institutional Trading of Puma Biotechnology

Several large investors have recently bought and sold shares of PBYI. Marshall Wace LLP acquired a new stake in Puma Biotechnology in the fourth quarter valued at about $1,359,000. Millennium Management LLC boosted its stake in shares of Puma Biotechnology by 16.0% during the second quarter. Millennium Management LLC now owns 2,216,644 shares of the biopharmaceutical company’s stock valued at $6,317,000 after purchasing an additional 304,969 shares in the last quarter. EAM Investors LLC acquired a new stake in shares of Puma Biotechnology during the fourth quarter valued at about $1,154,000. Citadel Advisors LLC boosted its stake in shares of Puma Biotechnology by 621.1% during the second quarter. Citadel Advisors LLC now owns 299,477 shares of the biopharmaceutical company’s stock valued at $853,000 after purchasing an additional 257,947 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in shares of Puma Biotechnology by 94.7% during the first quarter. Dimensional Fund Advisors LP now owns 453,105 shares of the biopharmaceutical company’s stock valued at $1,400,000 after purchasing an additional 220,336 shares in the last quarter. 55.97% of the stock is owned by institutional investors and hedge funds.

About Puma Biotechnology

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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's drug candidates include PB272 (neratinib, oral), for the patients with early stage HER2-overexpressed/amplified breast cancer; for the use of neratinib in combination with capecitabine for the treatment of adult patients with advanced or metastatic HER2-positive breast cancer; and for HER2 mutation-positive solid tumors.

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