Puma Biotechnology Inc (PBYI) Major Shareholder Sells $19,859,923.20 in Stock

Puma Biotechnology Inc (NYSE:PBYI) major shareholder Adage Capital Partners Gp, L.L sold 247,260 shares of the firm’s stock in a transaction that occurred on Monday, June 12th. The shares were sold at an average price of $80.32, for a total transaction of $19,859,923.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Adage Capital Partners Gp, L.L also recently made the following trade(s):

  • On Monday, June 5th, Adage Capital Partners Gp, L.L sold 507,128 shares of Puma Biotechnology stock. The shares were sold at an average price of $87.84, for a total transaction of $44,546,123.52.
  • On Friday, May 26th, Adage Capital Partners Gp, L.L sold 1,235,700 shares of Puma Biotechnology stock. The shares were sold at an average price of $75.38, for a total transaction of $93,147,066.00.

Puma Biotechnology Inc (PBYI) traded down 2.36% during midday trading on Tuesday, reaching $78.50. 910,135 shares of the company traded hands. Puma Biotechnology Inc has a one year low of $27.64 and a one year high of $92.00. The stock’s 50 day moving average is $58.65 and its 200 day moving average is $42.11. The company’s market capitalization is $2.90 billion.

Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings results on Wednesday, May 10th. The biopharmaceutical company reported ($1.97) EPS for the quarter, topping analysts’ consensus estimates of ($2.06) by $0.09. On average, equities analysts anticipate that Puma Biotechnology Inc will post ($8.50) earnings per share for the current year.

COPYRIGHT VIOLATION NOTICE: This piece was first reported by Sports Perspectives and is the sole property of of Sports Perspectives. If you are viewing this piece on another site, it was illegally stolen and reposted in violation of U.S. & international trademark & copyright laws. The legal version of this piece can be viewed at https://sportsperspectives.com/2017/06/20/puma-biotechnology-inc-pbyi-major-shareholder-adage-capital-partners-gp-l-l-sells-247260-shares-of-stock-updated.html.

Hedge funds have recently made changes to their positions in the company. State Street Corp raised its stake in shares of Puma Biotechnology by 113.1% in the fourth quarter. State Street Corp now owns 1,946,098 shares of the biopharmaceutical company’s stock worth $59,746,000 after buying an additional 1,032,915 shares during the last quarter. Redmile Group LLC acquired a new stake in shares of Puma Biotechnology during the third quarter worth approximately $44,406,000. Camber Capital Management LLC acquired a new stake in shares of Puma Biotechnology during the first quarter worth approximately $24,180,000. Tourbillon Capital Partners L.P. acquired a new stake in shares of Puma Biotechnology during the fourth quarter worth approximately $13,768,000. Finally, Emerald Advisers Inc. PA acquired a new stake in shares of Puma Biotechnology during the first quarter worth approximately $14,110,000. 80.98% of the stock is owned by institutional investors.

A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of Puma Biotechnology from a “buy” rating to a “hold” rating in a research note on Wednesday, June 14th. Stifel Nicolaus restated a “buy” rating and issued a $105.00 price target on shares of Puma Biotechnology in a research note on Monday, June 5th. Citigroup Inc. upgraded shares of Puma Biotechnology to a “buy” rating and set a $105.00 target price on the stock in a research report on Sunday, May 28th. J P Morgan Chase & Co reiterated an “overweight” rating and set a $89.00 target price on shares of Puma Biotechnology in a research report on Tuesday, June 6th. Finally, Royal Bank Of Canada lifted their target price on shares of Puma Biotechnology from $60.00 to $88.00 and gave the stock a “sector perform” rating in a research report on Tuesday, June 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and six have given a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $86.94.

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.

Receive News & Ratings for Puma Biotechnology Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Puma Biotechnology Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply