Connor Clark & Lunn Investment Management Ltd. Grows Stock Position in Puma Biotechnology, Inc. (NASDAQ:PBYI)

Connor Clark & Lunn Investment Management Ltd. grew its position in Puma Biotechnology, Inc. (NASDAQ:PBYI) by 3.9% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 368,455 shares of the biopharmaceutical company’s stock after buying an additional 13,941 shares during the quarter. Connor Clark & Lunn Investment Management Ltd.’s holdings in Puma Biotechnology were worth $940,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PBYI. SG Americas Securities LLC purchased a new position in shares of Puma Biotechnology in the third quarter valued at approximately $34,000. Patriot Financial Group Insurance Agency LLC lifted its position in shares of Puma Biotechnology by 72.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 19,000 shares of the biopharmaceutical company’s stock valued at $48,000 after acquiring an additional 8,000 shares in the last quarter. Royce & Associates LP lifted its position in shares of Puma Biotechnology by 71.8% in the third quarter. Royce & Associates LP now owns 20,165 shares of the biopharmaceutical company’s stock valued at $51,000 after acquiring an additional 8,427 shares in the last quarter. Victory Capital Management Inc. purchased a new position in shares of Puma Biotechnology in the second quarter valued at approximately $54,000. Finally, The Manufacturers Life Insurance Company purchased a new position in shares of Puma Biotechnology in the second quarter valued at approximately $58,000. Hedge funds and other institutional investors own 61.29% of the company’s stock.

Puma Biotechnology Trading Up 2.9 %

Shares of NASDAQ PBYI opened at $3.23 on Thursday. Puma Biotechnology, Inc. has a twelve month low of $2.22 and a twelve month high of $7.73. The company has a current ratio of 1.42, a quick ratio of 1.40 and a debt-to-equity ratio of 0.46. The stock has a fifty day simple moving average of $2.79 and a 200-day simple moving average of $3.14. The stock has a market capitalization of $158.56 million, a PE ratio of 6.54 and a beta of 1.09.

Puma Biotechnology (NASDAQ:PBYI) last released its earnings results on Thursday, November 7th. The biopharmaceutical company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.31 by $0.10. The firm had revenue of $80.50 million during the quarter, compared to analysts’ expectations of $71.32 million. Puma Biotechnology had a return on equity of 41.60% and a net margin of 9.56%. During the same period in the previous year, the firm posted $0.12 EPS. On average, equities analysts forecast that Puma Biotechnology, Inc. will post 0.29 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PBYI shares. StockNews.com downgraded Puma Biotechnology from a “strong-buy” rating to a “buy” rating in a research report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and set a $7.00 price objective on shares of Puma Biotechnology in a research report on Wednesday, November 20th.

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.