Puma Biotechnology Inc (PBYI) : Traders are negative on Puma Biotechnology Inc (PBYI), as it has 18% of short positions outstanding compared to its float. The total shorts have reduced by -478,437 shares, which is a -8.8% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,5,435,135 to 4,956,698 shares. While the daily trading volume of the stock is 645,535, there are 8 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Puma Biotechnology Inc (NYSE:PBYI): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $56.25 and $56.25 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $63.06. The buying momentum continued till the end and the stock did not give up its gains. It closed at $57.87, notching a gain of 2.21% for the day. The total traded volume was 1,918,822 . The stock had closed at $56.62 on the previous day.
In a related news,The officer (SR VP, CLINICAL RESEARCH & DEV) of Puma Biotechnology, Inc., Bryce Richard Paul sold 3,000 shares at $110.03 on July 6, 2015. The Insider selling transaction had a total value worth of $330,090. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.
Puma Biotechnology, Inc. is a biopharmaceutical company that focuses on the acquisition, development and commercialization of products for the treatment of cancer. The Company focuses on in-licensing drug candidates that are undergoing or have already completed initial clinical testing for the treatment of cancer and then seeks to further develop those drug candidates for commercial use. It licenses the rights to three drug candidates. It is developing PB272 (neratinib (oral)) for the treatment of patients with human epidermal growth factor receptor type 2 (HER2), positive breast cancer, and patients with non-small cell lung cancer, breast cancer and other solid tumors that have a HER2 mutation. It is developing PB272 (neratinib (intravenous)) for the treatment of patients with advanced cancer. PB357 is an orally administered agent that is an irreversible tyrosine kinase inhibitor that blocks signal transduction through the epidermal growth factor receptors, HER1, HER2, and HER4.