Traders Buy Large Volume of Call Options on Puma Biotechnology (PBYI)

Puma Biotechnology Inc (NASDAQ:PBYI) was the target of unusually large options trading activity on Monday. Stock traders bought 8,565 call options on the company. This is an increase of approximately Infinity compared to the typical volume of 0 call options.

A number of analysts have recently commented on the stock. BidaskClub cut shares of Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research note on Tuesday. Citigroup Inc. boosted their target price on shares of Puma Biotechnology from $156.00 to $164.00 and gave the stock a “buy” rating in a research note on Friday, November 10th. Stifel Nicolaus reaffirmed a “buy” rating and set a $110.00 price objective (down previously from $118.00) on shares of Puma Biotechnology in a research note on Thursday, August 10th. J P Morgan Chase & Co set a $105.00 price objective on shares of Puma Biotechnology and gave the company a “buy” rating in a research note on Wednesday, August 9th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $122.00 price objective (up previously from $103.00) on shares of Puma Biotechnology in a research note on Friday, November 10th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and nine have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $130.67.

Shares of Puma Biotechnology (NASDAQ:PBYI) opened at $105.50 on Friday. Puma Biotechnology has a one year low of $28.35 and a one year high of $136.90.

Puma Biotechnology (NASDAQ:PBYI) last posted its quarterly earnings results on Thursday, November 9th. The biopharmaceutical company reported ($2.07) earnings per share for the quarter, beating the consensus estimate of ($2.50) by $0.43. The firm had revenue of $6.10 million during the quarter, compared to analysts’ expectations of $3.78 million. During the same period last year, the company earned ($1.11) EPS. sell-side analysts expect that Puma Biotechnology will post -8.19 earnings per share for the current year.

In other news, SVP Richard Paul Bryce sold 15,000 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $120.00, for a total transaction of $1,800,000.00. Following the completion of the sale, the senior vice president now owns 42,239 shares of the company’s stock, valued at $5,068,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.10% of the stock is owned by insiders.

Several institutional investors have recently bought and sold shares of PBYI. Parametric Portfolio Associates LLC purchased a new stake in shares of Puma Biotechnology in the 1st quarter valued at approximately $257,000. Teachers Advisors LLC grew its stake in shares of Puma Biotechnology by 2.0% in the 1st quarter. Teachers Advisors LLC now owns 145,197 shares of the biopharmaceutical company’s stock valued at $5,401,000 after buying an additional 2,824 shares during the period. Legal & General Group Plc grew its stake in shares of Puma Biotechnology by 2.8% in the 1st quarter. Legal & General Group Plc now owns 9,297 shares of the biopharmaceutical company’s stock valued at $346,000 after buying an additional 249 shares during the period. Vanguard Group Inc. grew its stake in shares of Puma Biotechnology by 4.4% in the 1st quarter. Vanguard Group Inc. now owns 2,428,909 shares of the biopharmaceutical company’s stock valued at $90,355,000 after buying an additional 101,722 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Puma Biotechnology by 17.3% in the 1st quarter. Geode Capital Management LLC now owns 232,371 shares of the biopharmaceutical company’s stock valued at $8,644,000 after buying an additional 34,190 shares during the period. 95.41% of the stock is owned by institutional investors and hedge funds.

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About Puma Biotechnology

Puma Biotechnology, Inc 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 development and commercialization rights to over three drug candidates, including PB272 (neratinib (oral)), PB272 (neratinib (intravenous)) and PB357.

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