Advantage Alpha Capital Partners LP Acquires Shares of 108,129 Puma Biotechnology, Inc. (NASDAQ:PBYI)

Advantage Alpha Capital Partners LP bought a new position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) in the third quarter, HoldingsChannel reports. The institutional investor bought 108,129 shares of the biopharmaceutical company’s stock, valued at approximately $276,000.

Several other large investors have also made changes to their positions in PBYI. American Century Companies Inc. increased its position in Puma Biotechnology by 98.5% in the second quarter. American Century Companies Inc. now owns 738,902 shares of the biopharmaceutical company’s stock worth $2,409,000 after purchasing an additional 366,653 shares during the period. Affinity Asset Advisors LLC bought a new position in shares of Puma Biotechnology in the 2nd quarter valued at about $815,000. Frazier Life Sciences Management L.P. grew its position in shares of Puma Biotechnology by 8.7% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,062,558 shares of the biopharmaceutical company’s stock worth $9,984,000 after buying an additional 246,264 shares during the period. Los Angeles Capital Management LLC bought a new stake in shares of Puma Biotechnology during the third quarter worth approximately $627,000. Finally, Great Point Partners LLC lifted its holdings in Puma Biotechnology by 10.6% in the second quarter. Great Point Partners LLC now owns 1,486,544 shares of the biopharmaceutical company’s stock valued at $4,846,000 after buying an additional 142,916 shares during the period. Institutional investors and hedge funds own 61.29% of the company’s stock.

Puma Biotechnology Stock Performance

Shares of NASDAQ:PBYI opened at $3.14 on Wednesday. The firm’s 50 day simple moving average is $2.78 and its 200 day simple moving average is $3.15. Puma Biotechnology, Inc. has a fifty-two week low of $2.22 and a fifty-two week high of $7.73. The company has a market capitalization of $154.14 million, a price-to-earnings ratio of 6.54 and a beta of 1.09. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.42 and a quick ratio of 1.40.

Puma Biotechnology (NASDAQ:PBYI) last posted its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.10. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. The company had revenue of $80.50 million for the quarter, compared to analyst estimates of $71.32 million. During the same period last year, the business posted $0.12 earnings per share. As a group, sell-side analysts forecast that Puma Biotechnology, Inc. will post 0.29 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $7.00 target price on shares of Puma Biotechnology in a report on Wednesday, November 20th. StockNews.com downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a report on Friday, November 22nd.

About Puma Biotechnology

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.