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.
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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.
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