Puma Biotechnology Inc (NASDAQ:PBYI) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 6,838,700 shares, a growth of 73.9% from the May 30th total of 3,932,400 shares. Currently, 21.0% of the shares of the company are short sold. Based on an average daily volume of 1,160,000 shares, the days-to-cover ratio is presently 5.9 days.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC bought a new position in shares of Puma Biotechnology during the 2nd quarter valued at $250,000. Trexquant Investment LP bought a new position in shares of Puma Biotechnology during the 1st quarter valued at $2,538,000. Thompson Siegel & Walmsley LLC bought a new position in shares of Puma Biotechnology during the 1st quarter valued at $640,000. DekaBank Deutsche Girozentrale raised its holdings in shares of Puma Biotechnology by 23.5% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 10,500 shares of the biopharmaceutical company’s stock valued at $461,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Pictet Asset Management Ltd. raised its holdings in shares of Puma Biotechnology by 53.3% during the 1st quarter. Pictet Asset Management Ltd. now owns 118,800 shares of the biopharmaceutical company’s stock valued at $4,608,000 after purchasing an additional 41,300 shares in the last quarter. Institutional investors and hedge funds own 86.74% of the company’s stock.
Shares of NASDAQ PBYI traded down $0.60 during mid-day trading on Thursday, reaching $11.76. 945,955 shares of the company traded hands, compared to its average volume of 1,131,761. Puma Biotechnology has a fifty-two week low of $11.68 and a fifty-two week high of $57.60. The company has a debt-to-equity ratio of 4.08, a quick ratio of 2.50 and a current ratio of 2.53. The firm has a market capitalization of $454.08 million, a price-to-earnings ratio of -3.93 and a beta of 0.98. The company has a fifty day moving average of $13.66.
PBYI has been the topic of several analyst reports. Citigroup restated a “buy” rating on shares of Healthequity in a research note on Friday, May 10th. Zacks Investment Research lowered shares of W. R. Grace & Co from a “buy” rating to a “hold” rating in a research note on Wednesday, May 1st. JPMorgan Chase & Co. set a €52.00 ($60.47) price target on shares of Vonovia and gave the company a “buy” rating in a research note on Friday, May 10th. Goldman Sachs Group upgraded shares of Koninklijke KPN from a “neutral” rating to a “buy” rating in a research note on Wednesday, May 29th. Finally, BidaskClub upgraded shares of Xilinx from a “hold” rating to a “buy” rating in a research note on Saturday, June 29th. Five analysts have rated the stock with a sell rating and eight have issued a hold rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $27.00.
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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