Puma Biotechnology Inc (NASDAQ:PBYI) Sees Significant Increase in Short Interest
Puma Biotechnology Inc (NASDAQ:PBYI) saw a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 7,542,800 shares, an increase of 10.3% from the June 15th total of 6,838,700 shares. Approximately 23.1% of the company’s stock are sold short. Based on an average daily volume of 1,240,000 shares, the short-interest ratio is currently 6.1 days.
In related news, insider Alan H. Auerbach sold 12,715 shares of the company’s stock in a transaction on Monday, July 22nd. The stock was sold at an average price of $9.98, for a total value of $126,895.70. Following the sale, the insider now directly owns 4,189,525 shares of the company’s stock, valued at $41,811,459.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Over the last ninety days, insiders sold 14,344 shares of company stock worth $159,889. 21.80% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the stock. Amundi Pioneer Asset Management Inc. acquired a new position in shares of Puma Biotechnology in the fourth quarter valued at about $61,000. CWM Advisors LLC bought a new stake in Puma Biotechnology during the second quarter worth about $156,000. Metropolitan Life Insurance Co. NY lifted its position in Puma Biotechnology by 383.0% during the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,698 shares of the biopharmaceutical company’s stock worth $197,000 after purchasing an additional 7,690 shares during the period. SG Americas Securities LLC bought a new stake in Puma Biotechnology during the first quarter worth about $210,000. Finally, Stephens Inc. AR bought a new stake in Puma Biotechnology during the first quarter worth about $240,000. Institutional investors and hedge funds own 86.95% of the company’s stock.
Puma Biotechnology (NASDAQ:PBYI) last announced its quarterly earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.69) by $0.43. Puma Biotechnology had a negative net margin of 35.01% and a negative return on equity of 245.22%. The company had revenue of $99.10 million for the quarter, compared to analyst estimates of $67.25 million. During the same quarter in the prior year, the business posted $0.03 EPS. Puma Biotechnology’s quarterly revenue was up 49.0% on a year-over-year basis. As a group, equities research analysts predict that Puma Biotechnology will post -2.49 EPS for the current year.
PBYI has been the topic of a number of recent research reports. Cowen reissued a “hold” rating and issued a $28.00 target price on shares of Puma Biotechnology in a research note on Friday, July 5th. Citigroup reissued a “buy” rating on shares of Healthequity in a research note on Friday, May 10th. Cantor Fitzgerald set a $8.00 target price on BioDelivery Sciences International and gave the stock a “buy” rating in a research note on Friday, May 10th. JPMorgan Chase & Co. set a €52.00 ($60.47) target price on Vonovia and gave the stock a “buy” rating in a research note on Friday, May 10th. Finally, Goldman Sachs Group raised Koninklijke KPN from a “neutral” rating to a “buy” rating in a report on Wednesday, May 29th. Five equities research analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. Puma Biotechnology presently has a consensus rating of “Hold” and a consensus target price of $27.00.
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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