Emerald Mutual Fund Advisers Trust Purchases 43,108 Shares of Puma Biotechnology Inc (PBYI)

Emerald Mutual Fund Advisers Trust increased its position in shares of Puma Biotechnology Inc (NYSE:PBYI) by 17.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 291,146 shares of the biopharmaceutical company’s stock after purchasing an additional 43,108 shares during the quarter. Puma Biotechnology accounts for approximately 1.5% of Emerald Mutual Fund Advisers Trust’s investment portfolio, making the stock its 6th largest position. Emerald Mutual Fund Advisers Trust owned 0.78% of Puma Biotechnology worth $34,865,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PBYI. Strs Ohio bought a new position in shares of Puma Biotechnology in the second quarter worth about $122,000. Cubist Systematic Strategies LLC bought a new position in shares of Puma Biotechnology in the second quarter worth about $146,000. Kazazian Asset Management LLC bought a new position in shares of Puma Biotechnology in the second quarter worth about $209,000. Teacher Retirement System of Texas bought a new position in shares of Puma Biotechnology in the second quarter worth about $211,000. Finally, Ameritas Investment Partners Inc. lifted its holdings in shares of Puma Biotechnology by 5.9% in the second quarter. Ameritas Investment Partners Inc. now owns 2,522 shares of the biopharmaceutical company’s stock worth $220,000 after acquiring an additional 140 shares during the last quarter. 80.98% of the stock is owned by institutional investors and hedge funds.

In other Puma Biotechnology news, SVP Richard Paul Bryce sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $120.00, for a total value of $1,800,000.00. Following the completion of the sale, the senior vice president now owns 42,239 shares in the company, valued at $5,068,680. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 22.70% of the company’s stock.

PBYI has been the subject of a number of research reports. Leerink Swann reissued an “outperform” rating and issued a $115.00 target price on shares of Puma Biotechnology in a report on Monday, July 10th. Stifel Nicolaus reiterated a “buy” rating and issued a $105.00 price objective on shares of Puma Biotechnology in a report on Monday, July 10th. Zacks Investment Research lowered shares of Puma Biotechnology from a “hold” rating to a “sell” rating in a report on Tuesday, July 11th. Credit Suisse Group reiterated an “outperform” rating and issued a $118.00 price objective (up previously from $90.00) on shares of Puma Biotechnology in a report on Tuesday, July 18th. Finally, Citigroup Inc. reiterated a “buy” rating and issued a $114.00 price objective on shares of Puma Biotechnology in a report on Tuesday, July 18th. One analyst has rated the stock with a sell rating, one has assigned a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Puma Biotechnology has a consensus rating of “Buy” and an average price target of $126.56.

Puma Biotechnology (NYSE:PBYI) last announced its quarterly earnings data on Wednesday, August 9th. The biopharmaceutical company reported ($2.10) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.32) by ($0.78).

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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.

Institutional Ownership by Quarter for Puma Biotechnology (NYSE:PBYI)

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