Puma Biotechnology Inc (NYSE:PBYI) reported a rise of 2.9% or 144,315 shares in its short interest. The short figure came in at 18.8% of the total floats. The average daily volume of 649,381 shares suggests that the days to cover 5,173,034 short positions, as on June 15,2016, will be 8. On May 31,2016, the short interest was 5,028,719 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Puma Biotechnology Inc (NYSE:PBYI): The stock opened at $31.98 on Friday but the bulls could not build on the opening and the stock topped out at $32.44 for the day. The stock traded down to $30.50 during the day, due to lack of any buying support eventually closed down at $30.62 with a loss of -9.00% for the day. The stock had closed at $33.65 on the previous day. The total traded volume was 2,631,809 shares.
The company shares have dropped -73.03% from its 1 Year high price. On Jul 1, 2015, the shares registered one year high at $119.36 and the one year low was seen on May 10, 2016. The 50-Day Moving Average price is $31.81 and the 200 Day Moving Average price is recorded at $42.92.
Puma Biotechnology Inc (NYSE:PBYI) has tumbled 1.92% during the past week and has dropped 17.87% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 0.29%. Puma Biotechnology Inc (NYSE:PBYI) has underperformed the index by 15.38% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.