It is currently trading at $127.30 which is just over $117.00, the 50 day moving average and which is impressively higher than the 200 day moving average of $84.72. The 50 day moving average moved up $10.30 whereas the 200 day moving average was up $42.58 or +50.25%. 414K shares changed hands in the last trading session. Trading volume was down 22.74% under the stocks average daily volume.
Investors are more bullish on shares of Puma Biotechnology Inc lately if you consider the change in short interest. The company saw a fall in short interest of -8.10% as of the latest report on October 13, 2017. Short shares decreased 270,552 over that period. With short interest at 3,068,413 and short average daily volume at 661,537, days to cover is 5.0 and the short interest percentage is 0.08% as of October 13.
Puma Biotechnology Inc (NASDAQ:PBYI) has been the object of insider selling activity recently. Richard Paul Bryce, SR VP, CLINICAL RESEARCH & DEV sold $1,800,000 worth of shares at an average price of $120.00 on Fri the 29th. The SR VP, CLINICAL RESEARCH & DEV now owns $3,268,680 of the stock as reported to the SEC. SR VP, CLINICAL RESEARCH & DEV Richard Paul Bryce disclosed the sale of 15,000 shares of (PBYI). The shares were sold on September 7th for a price of $100.05. The SR VP, CLINICAL RESEARCH & DEV now owns $2,725,262 of the stock per the Form 4 SEC filing.
These firms have modified their investment in PBYI. FOX RUN Management, L.l.c. expanded its position by buying 200 shares an increase of 7.7%. FOX RUN Management, L.l.c. now holds 2,800 shares with a value of $335,000. The total value of its holdings increased 47.6%. As of the end of the quarter Strs Ohio had bought 1,300 shares growing its holdings by 92.9%. The value of the investment in PBYI went from $122,000 to $323,000 a change of $201,000 quarter over quarter.
Nationwide Fund Advisors grew its ownership by buying 3,657 shares an increase of 22.5% in the quarter. Nationwide Fund Advisors claims 19,879 shares valued at $2,381,000. The value of the position overall is up by 67.9%. As of quarter end Nj State Employees Deferred Compensation Plan had acquired a total of 4,000 shares growing its stake by 80.0%. The value in dollars increased from $437,000 to $1,078,000 a change of 146.7% for the reporting period.
On July 18 Credit Suisse kept the stock rating at “Outperform” but raised the price expectation to $118.00 from $111.00. Barclays began coverage with an initial rating of “Overweight”.
September 11 investment analysts at Credit Suisse held the company rating at “Outperform” and raised the price expectation from $118.00 to $136.00. October 5 investment analysts at Citigroup kept the company rating at “Buy” and moved up the price target from $88.00 to $156.00.
In the latest earnings report the EPS was $-8.14 and is projected to be $-8.83 for the current year with 37,205,000 shares now outstanding. Analysts expect next quarter’s EPS to be $-2.16 and the next full year EPS is projected to be $-4.97.
Puma Biotechnology, Inc., launched on September 15, 2010, 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 global development and commercialization rights to the three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357. Its neratinib has clinical application in the treatment of several other cancers as well, including non-small cell lung cancer (NSCLC), and other tumor types that over-express or have a mutation in HER2..