Puma Biotechnology (NASDAQ:PBYI) Shares Cross Above 200-Day Moving Average – Should You Sell?

Puma Biotechnology, Inc. (NASDAQ:PBYI)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.93 and traded as high as $3.41. Puma Biotechnology shares last traded at $3.34, with a volume of 502,104 shares trading hands.

Analysts Set New Price Targets

Several analysts have issued reports on PBYI shares. HC Wainwright reaffirmed a “buy” rating and issued a $7.00 price target on shares of Puma Biotechnology in a report on Friday, February 28th. StockNews.com lowered shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 8th.

Puma Biotechnology Trading Up 3.1 %

The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The stock has a market capitalization of $165.70 million, a price-to-earnings ratio of 6.96 and a beta of 1.33. The business has a 50 day simple moving average of $3.09 and a 200-day simple moving average of $2.93.

Puma Biotechnology (NASDAQ:PBYI) last issued its quarterly earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.10 by $0.29. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. The firm had revenue of $59.10 million during the quarter, compared to analyst estimates of $52.50 million. On average, equities analysts predict that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $29,726.55. Following the completion of the sale, the insider now directly owns 108,951 shares in the company, valued at approximately $343,195.65. This represents a 7.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Auerbach sold 33,841 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total value of $106,599.15. Following the transaction, the chief executive officer now owns 7,029,674 shares in the company, valued at approximately $22,143,473.10. This represents a 0.48 % decrease in their position. The disclosure for this sale can be found here. 23.70% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Puma Biotechnology

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Acorn Capital Advisors LLC purchased a new stake in Puma Biotechnology during the 4th quarter worth $7,475,000. Kennedy Capital Management LLC grew its stake in Puma Biotechnology by 36.5% in the fourth quarter. Kennedy Capital Management LLC now owns 809,375 shares of the biopharmaceutical company’s stock worth $2,469,000 after purchasing an additional 216,329 shares in the last quarter. Dimensional Fund Advisors LP grew its position in shares of Puma Biotechnology by 24.7% in the 4th quarter. Dimensional Fund Advisors LP now owns 863,760 shares of the biopharmaceutical company’s stock worth $2,635,000 after acquiring an additional 170,968 shares in the last quarter. D. E. Shaw & Co. Inc. raised its position in shares of Puma Biotechnology by 287.9% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 222,608 shares of the biopharmaceutical company’s stock valued at $679,000 after acquiring an additional 165,220 shares in the last quarter. Finally, Two Sigma Investments LP boosted its holdings in Puma Biotechnology by 266.2% in the fourth quarter. Two Sigma Investments LP now owns 181,471 shares of the biopharmaceutical company’s stock worth $553,000 after purchasing an additional 131,916 shares during the period. 61.29% of the stock is owned by institutional investors and hedge funds.

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.