Puma Biotechnology, Inc. (NASDAQ:PBYI) Short Interest Down 18.6% in March

Puma Biotechnology, Inc. (NASDAQ:PBYI) was the recipient of a significant decrease in short interest during the month of March. As of March 15th, there was short interest totalling 3,330,000 shares, a decrease of 18.6% from the February 29th total of 4,090,000 shares. Based on an average daily trading volume, of 603,600 shares, the days-to-cover ratio is currently 5.5 days. Approximately 9.0% of the company’s shares are sold short.

Insider Activity

In other Puma Biotechnology news, CEO Alan H. Auerbach sold 41,396 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 value of $185,868.04. Following the sale, the chief executive officer now owns 6,936,947 shares in the company, valued at $31,146,892.03. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, CFO Maximo F. Nougues sold 15,682 shares of the firm’s stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $4.49, for a total transaction of $70,412.18. Following the sale, the chief financial officer now owns 128,666 shares of the company’s stock, valued at $577,710.34. The sale was disclosed in a filing with the SEC, which is available 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 transaction of $185,868.04. Following the completion of the sale, the chief executive officer now owns 6,936,947 shares in the company, valued at $31,146,892.03. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,811 shares of company stock valued at $291,001. 22.70% of the stock is currently owned by insiders.

Institutional Trading of Puma Biotechnology

Several institutional investors have recently added to or reduced their stakes in PBYI. Jane Street Group LLC purchased a new position in shares of Puma Biotechnology during the second quarter worth $32,000. Balyasny Asset Management LLC purchased a new position in Puma Biotechnology during the 3rd quarter valued at about $33,000. UBS Group AG grew its position in Puma Biotechnology by 217.6% in the 1st quarter. UBS Group AG now owns 10,925 shares of the biopharmaceutical company’s stock valued at $34,000 after acquiring an additional 7,485 shares in the last quarter. Mackenzie Financial Corp purchased a new stake in Puma Biotechnology during the first quarter worth about $35,000. Finally, BNP Paribas Arbitrage SNC increased its stake in Puma Biotechnology by 45.3% during the third quarter. BNP Paribas Arbitrage SNC now owns 19,918 shares of the biopharmaceutical company’s stock worth $47,000 after purchasing an additional 6,212 shares during the period. Institutional investors and hedge funds own 61.29% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. StockNews.com raised Puma Biotechnology from a “hold” rating to a “buy” rating in a report on Tuesday, March 12th. HC Wainwright reduced their price target on Puma Biotechnology from $8.00 to $7.00 and set a “buy” rating for the company in a report on Friday, March 1st.

Puma Biotechnology Trading Down 5.0 %

Shares of PBYI opened at $5.30 on Monday. Puma Biotechnology has a 12-month low of $2.13 and a 12-month high of $7.73. The firm has a market capitalization of $255.51 million, a P/E ratio of 11.52, a P/E/G ratio of 3.02 and a beta of 1.28. The firm has a 50-day moving average price of $5.58 and a 200 day moving average price of $4.24. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 1.23.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, February 29th. The biopharmaceutical company reported $0.26 EPS for the quarter, missing the consensus estimate of $0.33 by ($0.07). The business had revenue of $72.20 million during the quarter, compared to analyst estimates of $73.22 million. Puma Biotechnology had a net margin of 9.16% and a return on equity of 58.21%. Sell-side analysts forecast that Puma Biotechnology will post 0.29 EPS for the current year.

Puma Biotechnology Company 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.