Neuberger Berman Group LLC bought a new position in shares of Puma Biotechnology Inc (NYSE:PBYI) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 17,200 shares of the biopharmaceutical company’s stock, valued at approximately $1,503,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas bought a new stake in Puma Biotechnology during the second quarter worth about $211,000. BB Biotech AG raised its holdings in Puma Biotechnology by 1.5% during the first quarter. BB Biotech AG now owns 245,616 shares of the biopharmaceutical company’s stock worth $9,137,000 after acquiring an additional 3,625 shares in the last quarter. Renaissance Technologies LLC bought a new stake in Puma Biotechnology during the first quarter worth about $7,682,000. American International Group Inc. raised its holdings in Puma Biotechnology by 19.2% during the first quarter. American International Group Inc. now owns 16,931 shares of the biopharmaceutical company’s stock worth $630,000 after acquiring an additional 2,733 shares in the last quarter. Finally, Canada Pension Plan Investment Board raised its holdings in Puma Biotechnology by 101.9% during the first quarter. Canada Pension Plan Investment Board now owns 43,000 shares of the biopharmaceutical company’s stock worth $1,600,000 after acquiring an additional 21,700 shares in the last quarter. Institutional investors and hedge funds own 80.98% of the company’s stock.
In related news, insider Alan H. Auerbach sold 13,175 shares of Puma Biotechnology stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.73, for a total value of $1,248,067.75. Following the sale, the insider now owns 4,170,623 shares of the company’s stock, valued at approximately $395,083,116.79. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Richard Paul Bryce sold 15,000 shares of Puma Biotechnology stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $100.09, for a total transaction of $1,501,350.00. Following the completion of the sale, the senior vice president now directly owns 28,239 shares in the company, valued at approximately $2,826,441.51. The disclosure for this sale can be found here. In the last three months, insiders have sold 35,173 shares of company stock worth $3,373,689. Insiders own 22.70% of the company’s stock.
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Shares of Puma Biotechnology Inc (NYSE:PBYI) opened at 102.25 on Friday. The firm has a 50-day moving average price of $89.54 and a 200 day moving average price of $66.01. The company’s market cap is $3.80 billion. Puma Biotechnology Inc has a 1-year low of $28.35 and a 1-year high of $109.85.
Puma Biotechnology (NYSE:PBYI) last posted its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.78). On average, analysts predict that Puma Biotechnology Inc will post ($8.67) EPS for the current fiscal year.
Several analysts recently issued reports on the company. Credit Suisse Group upped their target price on Puma Biotechnology from $118.00 to $136.00 and gave the stock an “outperform” rating in a report on Monday, September 11th. BidaskClub upgraded Puma Biotechnology from a “hold” rating to a “buy” rating in a report on Friday, September 8th. Barclays PLC assumed coverage on Puma Biotechnology in a report on Wednesday, September 6th. They set an “overweight” rating and a $103.00 target price on the stock. Stifel Nicolaus reiterated a “buy” rating and set a $110.00 target price (down previously from $118.00) on shares of Puma Biotechnology in a report on Thursday, August 10th. Finally, J P Morgan Chase & Co set a $105.00 price objective on Puma Biotechnology and gave the company a “buy” rating in a research note on Wednesday, August 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $110.70.
About Puma Biotechnology
Puma Biotechnology, Inc is a biopharmaceutical company that focuses on the development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing the development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.
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