Gateway Wealth Partners LLC Buys New Position in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Gateway Wealth Partners LLC purchased a new position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 10,200 shares of the biopharmaceutical company’s stock, valued at approximately $31,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Los Angeles Capital Management LLC bought a new stake in shares of Puma Biotechnology during the 3rd quarter worth $627,000. Advantage Alpha Capital Partners LP purchased a new stake in Puma Biotechnology during the third quarter worth about $276,000. State Street Corp raised its position in Puma Biotechnology by 17.0% in the third quarter. State Street Corp now owns 601,542 shares of the biopharmaceutical company’s stock worth $1,534,000 after acquiring an additional 87,504 shares during the period. BNP Paribas Financial Markets boosted its stake in Puma Biotechnology by 2,002.5% in the third quarter. BNP Paribas Financial Markets now owns 67,702 shares of the biopharmaceutical company’s stock valued at $173,000 after acquiring an additional 64,482 shares during the last quarter. Finally, Barclays PLC grew its position in shares of Puma Biotechnology by 146.5% during the 3rd quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company’s stock valued at $199,000 after acquiring an additional 46,370 shares during the period. 61.29% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PBYI has been the topic of several research analyst reports. StockNews.com downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Friday, December 6th. HC Wainwright reiterated a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a research note on Monday, December 23rd.

Insider Buying and Selling at Puma Biotechnology

In other news, CEO Alan H. Auerbach sold 33,841 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 7,029,674 shares in the company, valued at approximately $22,143,473.10. This trade represents a 0.48 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jeffrey Jerome Ludwig sold 9,437 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $3.15, for a total transaction of $29,726.55. Following the sale, the insider now directly owns 108,951 shares in the company, valued at $343,195.65. This trade represents a 7.97 % decrease in their position. The disclosure for this sale can be found here. Insiders own 23.70% of the company’s stock.

Puma Biotechnology Stock Performance

Shares of PBYI stock opened at $3.04 on Friday. The firm’s 50 day moving average is $3.08 and its 200 day moving average is $2.98. The stock has a market capitalization of $149.23 million, a P/E ratio of 6.33 and a beta of 1.10. Puma Biotechnology, Inc. has a 12 month low of $2.22 and a 12 month high of $7.73. 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 (NASDAQ:PBYI) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. The firm had revenue of $80.50 million for the quarter, compared to the consensus estimate of $71.32 million. During the same quarter in the prior year, the business posted $0.12 earnings per share. On average, sell-side analysts anticipate that Puma Biotechnology, Inc. will post 0.31 earnings per share for the current year.

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.