Alliancebernstein L.P. held its position in Puma Biotechnology Inc (NYSE:PBYI) during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 39,140 shares of the biopharmaceutical company’s stock at the end of the first quarter. Alliancebernstein L.P.’s holdings in Puma Biotechnology were worth $1,456,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Emerald Advisers Inc. PA bought a new stake in Puma Biotechnology during the first quarter valued at approximately $14,110,000. Emerald Mutual Fund Advisers Trust bought a new stake in Puma Biotechnology during the first quarter valued at approximately $9,702,000. Norges Bank bought a new stake in Puma Biotechnology during the fourth quarter valued at approximately $7,693,000. Schroder Investment Management Group boosted 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. Finally, Capital Fund Management S.A. bought a new stake in Puma Biotechnology during the first quarter valued at approximately $3,264,000. 80.98% of the stock is currently owned by institutional investors and hedge funds.
Shares of Puma Biotechnology Inc (PBYI) opened at 95.35 on Wednesday. The firm has a 50-day moving average of $85.71 and a 200-day moving average of $51.38. The firm’s market capitalization is $3.52 billion. Puma Biotechnology Inc has a 1-year low of $28.35 and a 1-year high of $97.41.
Puma Biotechnology (NYSE:PBYI) last released its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. On average, equities research analysts anticipate that Puma Biotechnology Inc will post ($8.43) EPS for the current fiscal year.
PBYI has been the subject of several research reports. Zacks Investment Research upgraded shares of Puma Biotechnology from a “hold” rating to a “buy” rating and set a $36.00 price target for the company in a report on Tuesday, May 16th. Stifel Nicolaus restated a “buy” rating and set a $88.00 price target on shares of Puma Biotechnology in a report on Wednesday, April 19th. Cowen and Company restated a “market perform” rating on shares of Puma Biotechnology in a report on Monday, May 22nd. Citigroup Inc. restated a “buy” rating and set a $105.00 price target on shares of Puma Biotechnology in a report on Friday, June 30th. Finally, Leerink Swann restated an “outperform” rating and set a $115.00 price target on shares of Puma Biotechnology in a report on Monday, July 10th. Two investment analysts have rated the stock with a sell rating, one has issued a hold rating and seven have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus price target of $101.75.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 13,175 shares of the company’s stock in a transaction that occurred on Thursday, July 20th. The stock was 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 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 SEC, which is available at this hyperlink. Also, SVP Richard Paul Bryce sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, July 3rd. The stock was sold at an average price of $87.10, for a total value of $435,500.00. Following the transaction, the senior vice president now directly owns 34,237 shares of the company’s stock, valued at approximately $2,982,042.70. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 2,010,261 shares of company stock valued at $159,425,452. Insiders own 22.70% of the company’s stock.
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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