Swiss National Bank boosted its stake in Puma Biotechnology Inc (NASDAQ:PBYI) by 2.0% in the second quarter, HoldingsChannel.com reports. The firm owned 56,730 shares of the biopharmaceutical company’s stock after buying an additional 1,100 shares during the period. Swiss National Bank’s holdings in Puma Biotechnology were worth $722,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently bought and sold shares of PBYI. Great Lakes Advisors LLC acquired a new stake in Puma Biotechnology in the first quarter valued at $9,882,000. Candriam Luxembourg S.C.A. increased its holdings in Puma Biotechnology by 1,427.3% in the second quarter. Candriam Luxembourg S.C.A. now owns 223,200 shares of the biopharmaceutical company’s stock valued at $2,824,000 after purchasing an additional 208,586 shares during the period. PNC Financial Services Group Inc. acquired a new stake in Puma Biotechnology in the first quarter valued at $5,879,000. Spark Investment Management LLC increased its holdings in Puma Biotechnology by 20.4% in the first quarter. Spark Investment Management LLC now owns 570,800 shares of the biopharmaceutical company’s stock valued at $22,141,000 after purchasing an additional 96,700 shares during the period. Finally, Trexquant Investment LP acquired a new stake in Puma Biotechnology in the first quarter valued at $2,538,000. Institutional investors and hedge funds own 87.71% of the company’s stock.
Puma Biotechnology stock traded down $0.16 during trading hours on Friday, reaching $11.43. 153,844 shares of the company’s stock were exchanged, compared to its average volume of 1,210,699. The company has a quick ratio of 1.68, a current ratio of 1.72 and a debt-to-equity ratio of 5.39. The firm’s 50 day simple moving average is $10.22 and its 200 day simple moving average is $21.01. Puma Biotechnology Inc has a twelve month low of $8.45 and a twelve month high of $50.75. The firm has a market capitalization of $485.83 million, a PE ratio of -3.82 and a beta of 1.60.
In other Puma Biotechnology news, insider Alan H. Auerbach sold 12,715 shares of the stock in a transaction dated Monday, July 22nd. The stock was sold at an average price of $9.98, for a total transaction of $126,895.70. Following the completion of the sale, the insider now directly owns 4,189,525 shares in the company, valued at approximately $41,811,459.50. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have sold 14,435 shares of company stock valued at $145,302. Company insiders own 21.80% of the company’s stock.
PBYI has been the subject of a number of recent research reports. Goldman Sachs Group decreased their price objective on Puma Biotechnology from $29.00 to $24.00 and set a “neutral” rating for the company in a report on Wednesday, May 29th. They noted that the move was a valuation call. ValuEngine upgraded Puma Biotechnology from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Cowen restated a “hold” rating and issued a $25.00 price objective on shares of Puma Biotechnology in a report on Friday, August 9th. JPMorgan Chase & Co. restated a “sell” rating and issued a $13.00 price objective on shares of Puma Biotechnology in a report on Monday, August 12th. Finally, Citigroup set a $13.00 price target on Puma Biotechnology and gave the stock a “hold” rating in a report on Monday, August 12th. Four research analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $22.56.
About Puma Biotechnology
Puma Biotechnology, Inc, a biopharmaceutical company, focuses on the development and commercialization of products to enhance cancer care. Its drug candidates include PB272 neratinib (oral) for the treatment of early stage breast cancer, metastatic breast cancer, non-small cell lung cancer, HER2 mutation-positive solid tumors, and HER2-mutated non-amplified breast cancer; and PB272 neratinib (intravenous).
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