Puma Biotechnology Inc (NASDAQ:PBYI) Sees Large Decrease in Short Interest

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Puma Biotechnology Inc (NASDAQ:PBYI) was the recipient of a large decrease in short interest in the month of June. As of June 15th, there was short interest totalling 3,932,400 shares, a decrease of 9.5% from the May 15th total of 4,343,100 shares. Currently, 12.1% of the company’s stock are sold short. Based on an average daily volume of 1,100,000 shares, the short-interest ratio is presently 3.6 days.

Several hedge funds and other institutional investors have recently bought and sold shares of PBYI. NumerixS Investment Technologies Inc raised its holdings in shares of Puma Biotechnology by 969.5% in the fourth quarter. NumerixS Investment Technologies Inc now owns 2,139 shares of the biopharmaceutical company’s stock worth $45,000 after buying an additional 1,939 shares during the last quarter. Amundi Pioneer Asset Management Inc. purchased a new position in shares of Puma Biotechnology in the fourth quarter worth $61,000. Metropolitan Life Insurance Co. NY raised its holdings in shares of Puma Biotechnology by 383.0% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 9,698 shares of the biopharmaceutical company’s stock worth $197,000 after buying an additional 7,690 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Puma Biotechnology in the first quarter worth $210,000. Finally, Stephens Inc. AR purchased a new position in shares of Puma Biotechnology in the first quarter worth $240,000. 86.74% of the stock is owned by institutional investors and hedge funds.

PBYI has been the subject of several research reports. JPMorgan Chase & Co. set a €52.00 ($60.47) price target on shares of Vonovia and gave the stock a “buy” rating in a research report on Friday, May 10th. Cowen reaffirmed a “hold” rating and issued a $28.00 price target on shares of Puma Biotechnology in a research report on Friday, July 5th. BidaskClub raised shares of Xilinx from a “hold” rating to a “buy” rating in a research report on Saturday, June 29th. Zacks Investment Research cut shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research report on Wednesday, May 1st. Finally, Citigroup reaffirmed a “buy” rating on shares of Healthequity in a research report on Friday, May 10th. Five research analysts have rated the stock with a sell rating and eight have issued a hold rating to the company. Puma Biotechnology has a consensus rating of “Hold” and a consensus target price of $27.00.

NASDAQ:PBYI opened at $11.66 on Friday. Puma Biotechnology has a 52 week low of $11.53 and a 52 week high of $55.60. The company’s 50 day moving average price is $13.59. The company has a debt-to-equity ratio of 4.08, a current ratio of 2.53 and a quick ratio of 2.50. The stock has a market capitalization of $450.22 million, a PE ratio of -3.90 and a beta of 0.97.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($0.26) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.69) by $0.43. The company had revenue of $99.10 million during the quarter, compared to analysts’ expectations of $67.25 million. Puma Biotechnology had a negative net margin of 35.01% and a negative return on equity of 245.22%. Puma Biotechnology’s revenue for the quarter was up 49.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.03 earnings per share. On average, equities analysts anticipate that Puma Biotechnology will post -2.49 earnings per share for the current fiscal year.

Puma Biotechnology Company Profile

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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