Puma Biotechnology, Inc. (NASDAQ:PBYI) Shares Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. grew its position in shares of Puma Biotechnology, Inc. (NASDAQ:PBYI) by 32.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 487,368 shares of the biopharmaceutical company’s stock after buying an additional 118,913 shares during the period. Connor Clark & Lunn Investment Management Ltd. owned about 0.99% of Puma Biotechnology worth $1,486,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in PBYI. JPMorgan Chase & Co. increased its stake in Puma Biotechnology by 169.5% during the third quarter. JPMorgan Chase & Co. now owns 48,493 shares of the biopharmaceutical company’s stock valued at $124,000 after purchasing an additional 30,499 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Puma Biotechnology by 83.9% during the 4th quarter. SG Americas Securities LLC now owns 24,668 shares of the biopharmaceutical company’s stock valued at $75,000 after buying an additional 11,252 shares during the last quarter. FMR LLC raised its stake in Puma Biotechnology by 27.1% during the third quarter. FMR LLC now owns 118,265 shares of the biopharmaceutical company’s stock worth $302,000 after acquiring an additional 25,183 shares during the period. Barclays PLC lifted its holdings in Puma Biotechnology by 146.5% in the third quarter. Barclays PLC now owns 78,021 shares of the biopharmaceutical company’s stock worth $199,000 after acquiring an additional 46,370 shares during the last quarter. Finally, Franklin Resources Inc. acquired a new position in Puma Biotechnology in the third quarter valued at approximately $41,000. Institutional investors and hedge funds own 61.29% of the company’s stock.

Puma Biotechnology Stock Performance

PBYI opened at $3.45 on Thursday. Puma Biotechnology, Inc. has a 1-year low of $2.23 and a 1-year high of $6.06. The company has a market capitalization of $171.16 million, a price-to-earnings ratio of 7.19 and a beta of 1.33. The business has a 50 day moving average price of $3.08 and a two-hundred day moving average price of $2.93. 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 released its earnings results on Thursday, February 27th. The biopharmaceutical company reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.10 by $0.29. The business had revenue of $59.10 million for the quarter, compared to the consensus estimate of $52.50 million. Puma Biotechnology had a net margin of 9.56% and a return on equity of 41.60%. Research analysts predict that Puma Biotechnology, Inc. will post 0.31 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. StockNews.com lowered Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Saturday, March 8th. HC Wainwright reissued a “buy” rating and set a $7.00 price target on shares of Puma Biotechnology in a report on Friday, February 28th.

Insider Activity

In other Puma Biotechnology news, insider Jeffrey Jerome Ludwig sold 9,437 shares of Puma Biotechnology stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $3.15, for a total transaction of $29,726.55. Following the completion of the sale, the insider now owns 108,951 shares of the company’s stock, valued at $343,195.65. This trade represents a 7.97 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Alan H. Auerbach sold 33,841 shares of Puma Biotechnology stock in a transaction 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 sale, the chief executive officer now directly owns 7,029,674 shares of the company’s stock, valued at approximately $22,143,473.10. The trade was a 0.48 % decrease in their position. The disclosure for this sale can be found here. 23.70% of the stock is owned by company insiders.

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.