O Shaughnessy Asset Management LLC bought a new position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 5,060 shares of the biopharmaceutical company’s stock, valued at approximately $46,000.
Other institutional investors also recently bought and sold shares of the company. E Fund Management Co. Ltd. bought a new position in shares of Puma Biotechnology during the 1st quarter worth approximately $48,000. Royal Bank of Canada lifted its position in shares of Puma Biotechnology by 82.2% during the 1st quarter. Royal Bank of Canada now owns 9,206 shares of the biopharmaceutical company’s stock worth $89,000 after buying an additional 4,153 shares during the period. Meeder Asset Management Inc. bought a new position in shares of Puma Biotechnology during the 2nd quarter worth approximately $101,000. Dynamic Technology Lab Private Ltd bought a new position in Puma Biotechnology in the 1st quarter valued at $113,000. Finally, Orion Portfolio Solutions LLC raised its position in Puma Biotechnology by 18.9% in the 2nd quarter. Orion Portfolio Solutions LLC now owns 12,296 shares of the biopharmaceutical company’s stock valued at $113,000 after purchasing an additional 1,954 shares during the last quarter. Institutional investors and hedge funds own 85.05% of the company’s stock.
A number of research firms have recently weighed in on PBYI. The Goldman Sachs Group dropped their target price on Puma Biotechnology from $9.00 to $8.00 and set a “sell” rating for the company in a research report on Friday, August 6th. Royal Bank of Canada decreased their target price on Puma Biotechnology from $13.00 to $6.00 and set a “sector perform” rating for the company in a research note on Friday, August 6th.
Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, August 5th. The biopharmaceutical company reported ($0.13) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.31) by $0.18. Puma Biotechnology had a negative return on equity of 355.42% and a negative net margin of 13.77%. The company had revenue of $53.40 million during the quarter, compared to analysts’ expectations of $51.01 million. On average, sell-side analysts anticipate that Puma Biotechnology, Inc. will post -0.08 EPS for the current fiscal year.
In other Puma Biotechnology news, CEO Alan H. Auerbach sold 5,332 shares of the stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $8.84, for a total transaction of $47,134.88. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last quarter, insiders have sold 11,182 shares of company stock valued at $93,217. Company insiders own 19.50% of the company’s stock.
Puma Biotechnology Company Profile
Puma Biotechnology, Inc is a biopharmaceutical company. It acquires and develops innovative products for the treatment of various forms of cancer. The company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seek to further develop those drug candidates for commercial use.
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