Puma Biotechnology Inc (NASDAQ:PBYI) Short Interest Update

Puma Biotechnology Inc (NASDAQ:PBYI) saw a large growth in short interest in the month of August. As of August 31st, there was short interest totalling 8,855,600 shares, a growth of 20.6% from the July 31st total of 7,342,100 shares. Based on an average daily trading volume, of 1,360,000 shares, the short-interest ratio is presently 6.5 days. Approximately 26.4% of the company’s shares are short sold.

Puma Biotechnology stock traded down $0.29 during trading on Friday, reaching $11.30. 1,224,300 shares of the company’s stock were exchanged, compared to its average volume of 1,214,547. The company’s 50-day moving average is $10.22 and its two-hundred day moving average is $21.01. The company has a debt-to-equity ratio of 5.39, a quick ratio of 1.68 and a current ratio of 1.72. Puma Biotechnology has a 52-week low of $8.45 and a 52-week high of $49.20. The firm has a market cap of $432.96 million, a price-to-earnings ratio of -3.78 and a beta of 1.60.

Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($0.97) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.90) by ($0.07). Puma Biotechnology had a negative return on equity of 254.09% and a negative net margin of 32.23%. The business had revenue of $53.90 million for the quarter, compared to analysts’ expectations of $53.40 million. During the same period last year, the company posted ($0.59) earnings per share. The firm’s revenue for the quarter was up 6.1% on a year-over-year basis. Analysts anticipate that Puma Biotechnology will post -2.67 EPS for the current year.

Several analysts have recently issued reports on the stock. JPMorgan Chase & Co. reissued a “sell” rating and set a $13.00 price objective on shares of Puma Biotechnology in a research note on Monday, August 12th. Goldman Sachs Group lowered their price objective on shares of Puma Biotechnology from $29.00 to $24.00 and set a “neutral” rating for the company in a research note on Wednesday, May 29th. They noted that the move was a valuation call. BidaskClub cut shares of Puma Biotechnology from a “hold” rating to a “sell” rating in a research note on Monday, August 19th. Barclays lowered their price objective on shares of Puma Biotechnology from $21.00 to $9.00 and set an “underweight” rating for the company in a research note on Friday, August 9th. Finally, Cowen reissued a “hold” rating and set a $25.00 price objective on shares of Puma Biotechnology in a research note on Friday, August 9th. Four research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $22.56.

In other news, insider Alan H. Auerbach sold 12,715 shares of the business’s stock in a transaction on Monday, July 22nd. The shares were 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 of the company’s stock, valued at approximately $41,811,459.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 14,435 shares of company stock valued at $145,302 over the last three months. Corporate insiders own 21.80% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. Natixis purchased a new stake in Puma Biotechnology during the 2nd quarter worth $351,000. Voloridge Investment Management LLC purchased a new stake in Puma Biotechnology during the 2nd quarter worth $1,357,000. Nuveen Asset Management LLC purchased a new stake in Puma Biotechnology during the 2nd quarter worth $7,716,000. UBS Asset Management Americas Inc. boosted its position in Puma Biotechnology by 47.3% during the 2nd quarter. UBS Asset Management Americas Inc. now owns 25,656 shares of the biopharmaceutical company’s stock worth $326,000 after purchasing an additional 8,238 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its position in Puma Biotechnology by 291.7% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 100,663 shares of the biopharmaceutical company’s stock worth $1,279,000 after purchasing an additional 74,966 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

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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