Legal & General Group Plc boosted its stake in shares of Puma Biotechnology Inc (NYSE:PBYI) by 2.8% during the first quarter, according to its most recent disclosure with the SEC. The firm owned 9,297 shares of the biopharmaceutical company’s stock after buying an additional 249 shares during the period. Legal & General Group Plc’s holdings in Puma Biotechnology were worth $346,000 at the end of the most recent quarter.
A number of other institutional investors have also recently bought and sold shares of the stock. Emerald Advisers Inc. PA purchased a new position in Puma Biotechnology during the first quarter valued at approximately $14,110,000. Emerald Mutual Fund Advisers Trust purchased a new position in Puma Biotechnology during the first quarter valued at approximately $9,702,000. Norges Bank purchased a new position in Puma Biotechnology during the fourth quarter valued at approximately $7,693,000. Wellington Management Group LLP raised its stake in Puma Biotechnology by 7.2% in the first quarter. Wellington Management Group LLP now owns 2,539,350 shares of the biopharmaceutical company’s stock valued at $94,464,000 after buying an additional 170,812 shares in the last quarter. Finally, Schroder Investment Management Group raised its stake in Puma Biotechnology by 22.8% in the first quarter. Schroder Investment Management Group now owns 803,926 shares of the biopharmaceutical company’s stock valued at $30,147,000 after buying an additional 149,205 shares in the last quarter. 80.98% of the stock is owned by hedge funds and other institutional investors.
Shares of Puma Biotechnology Inc (NYSE PBYI) opened at 79.75 on Friday. Puma Biotechnology Inc has a 52-week low of $28.35 and a 52-week high of $98.85. The company’s market capitalization is $2.97 billion. The company’s 50-day moving average price is $87.66 and its 200-day moving average price is $58.07.
Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.32) by $0.78. Equities research analysts forecast that Puma Biotechnology Inc will post ($8.62) EPS for the current fiscal year.
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Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “buy” rating and issued a $110.00 price objective (down from $118.00) on shares of Puma Biotechnology in a research note on Thursday, August 10th. BidaskClub lowered Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday. Citigroup Inc. upgraded Puma Biotechnology to a “buy” rating and set a $105.00 price objective on the stock in a research note on Sunday, May 28th. 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. Finally, Leerink Swann reiterated an “outperform” rating and issued a $125.00 price objective on shares of Puma Biotechnology in a research note on Wednesday, August 2nd. One research analyst has rated the stock with a sell rating, two have issued a hold rating and seven have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $109.56.
In related news, SVP Richard Paul Bryce sold 1,998 shares of Puma Biotechnology stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $94.48, for a total value of $188,771.04. Following the transaction, the senior vice president now directly owns 27,246 shares of the company’s stock, valued at $2,574,202.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction of $1,248,067.75. Following the completion of the transaction, the insider now directly owns 4,170,623 shares in the company, valued at $395,083,116.79. The disclosure for this sale can be found here. Insiders sold 2,010,261 shares of company stock worth $159,425,452 over the last three months. 22.70% of the stock is currently owned by insiders.
Puma Biotechnology Company Profile
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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