C2C Wealth Management LLC Makes New Investment in Puma Biotechnology, Inc. (NASDAQ:PBYI)

C2C Wealth Management LLC purchased a new stake in Puma Biotechnology, Inc. (NASDAQ:PBYI) in the fourth quarter, HoldingsChannel reports. The firm purchased 12,000 shares of the biopharmaceutical company’s stock, valued at approximately $37,000.

Other hedge funds have also modified their holdings of the company. JPMorgan Chase & Co. increased its stake in Puma Biotechnology by 169.5% in the third quarter. JPMorgan Chase & Co. now owns 48,493 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 30,499 shares in the last quarter. SG Americas Securities LLC increased its position in shares of Puma Biotechnology by 83.9% in the 4th quarter. SG Americas Securities LLC now owns 24,668 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 11,252 shares in the last quarter. FMR LLC raised its stake in Puma Biotechnology by 27.1% during the 3rd quarter. FMR LLC now owns 118,265 shares of the biopharmaceutical company’s stock worth $302,000 after buying an additional 25,183 shares during the period. Barclays PLC raised its stake in Puma Biotechnology by 146.5% during the 3rd quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company’s stock worth $199,000 after buying an additional 46,370 shares during the period. Finally, Franklin Resources Inc. bought a new position in Puma Biotechnology during the third quarter worth about $41,000. 61.29% of the stock is currently owned by institutional investors and hedge funds.

Puma Biotechnology Trading Down 0.3 %

PBYI opened at $3.14 on Friday. The stock has a market capitalization of $155.78 million, a P/E ratio of 6.54 and a beta of 1.33. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. Puma Biotechnology, Inc. has a 12 month low of $2.23 and a 12 month high of $6.06. The firm’s fifty day simple moving average is $3.10 and its 200 day simple moving average is $2.97.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings data on Thursday, February 27th. The biopharmaceutical company reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.10 by $0.29. The company had revenue of $59.10 million during the quarter, compared to analysts’ expectations of $52.50 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. As a group, research analysts anticipate that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on PBYI shares. HC Wainwright reaffirmed a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a research report on Friday, February 28th. StockNews.com downgraded shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 8th.

Insiders Place Their Bets

In other news, insider Jeffrey Jerome Ludwig sold 9,437 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $29,726.55. Following the completion of the transaction, the insider now directly owns 108,951 shares in the company, valued at $343,195.65. This represents a 7.97 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Alan H. Auerbach sold 33,841 shares of Puma Biotechnology stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total value of $106,599.15. Following the completion of the sale, the chief executive officer now directly 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. Insiders own 23.70% of the company’s stock.

Puma Biotechnology 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.