Sivik Global Healthcare LLC decreased its position in shares of Puma Biotechnology Inc (NYSE:PBYI) by 33.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 20,000 shares of the biopharmaceutical company’s stock after selling 10,000 shares during the period. Sivik Global Healthcare LLC owned approximately 0.05% of Puma Biotechnology worth $1,748,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new position in shares of Puma Biotechnology in the first quarter worth about $195,000. Wells Fargo & Company MN increased its holdings in shares of Puma Biotechnology by 10.0% in the first quarter. Wells Fargo & Company MN now owns 24,151 shares of the biopharmaceutical company’s stock worth $899,000 after buying an additional 2,201 shares during the period. Canada Pension Plan Investment Board increased its holdings in shares of Puma Biotechnology by 101.9% in the first quarter. Canada Pension Plan Investment Board now owns 43,000 shares of the biopharmaceutical company’s stock worth $1,600,000 after buying an additional 21,700 shares during the period. BNP Paribas Arbitrage SA increased its holdings in shares of Puma Biotechnology by 999.1% in the first quarter. BNP Paribas Arbitrage SA now owns 23,071 shares of the biopharmaceutical company’s stock worth $858,000 after buying an additional 20,972 shares during the period. Finally, Swiss National Bank increased its holdings in shares of Puma Biotechnology by 2.1% in the first quarter. Swiss National Bank now owns 54,730 shares of the biopharmaceutical company’s stock worth $2,036,000 after buying an additional 1,100 shares during the period. Institutional investors and hedge funds own 80.98% of the company’s stock.
Puma Biotechnology Inc (NYSE:PBYI) traded up 1.08% during mid-day trading on Monday, hitting $103.35. The company had a trading volume of 104,113 shares. The stock’s market capitalization is $3.85 billion. The stock has a 50 day moving average price of $89.54 and a 200-day moving average price of $66.01. Puma Biotechnology Inc has a 1-year low of $28.35 and a 1-year high of $109.85.
Puma Biotechnology (NYSE:PBYI) last announced its earnings results on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.78). On average, analysts forecast that Puma Biotechnology Inc will post ($8.67) earnings per share for the current year.
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Several research analysts have recently commented on PBYI shares. Leerink Swann reiterated an “outperform” rating and issued a $125.00 price objective (up previously from $115.00) on shares of Puma Biotechnology in a report on Wednesday, July 19th. Zacks Investment Research upgraded Puma Biotechnology from a “hold” rating to a “buy” rating and set a $59.00 price objective on the stock in a report on Wednesday, May 24th. J P Morgan Chase & Co reiterated an “overweight” rating and issued a $89.00 price objective on shares of Puma Biotechnology in a report on Wednesday, May 24th. Credit Suisse Group set a $58.00 price objective on Puma Biotechnology and gave the stock a “buy” rating in a report on Monday, May 22nd. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $105.00 price objective on shares of Puma Biotechnology in a report on Friday, June 30th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have issued a buy rating to the company’s stock. Puma Biotechnology has an average rating of “Buy” and a consensus target price of $110.70.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 13,175 shares of the firm’s 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 completion of the sale, the insider now directly owns 4,170,623 shares in the company, valued at $395,083,116.79. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Richard Paul Bryce sold 5,000 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $87.10, for a total transaction of $435,500.00. Following the completion of the sale, the senior vice president now owns 34,237 shares of the company’s stock, valued at $2,982,042.70. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 35,173 shares of company stock valued at $3,373,689. 22.70% of the stock is owned by insiders.
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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