Puma Biotechnology hits new 52-week high amid earnings beat

Puma Biotechnology, Inc. (PBYI) recently reached a new 52-week high, with shares trading as high as $9.73. The biopharmaceutical company reported quarterly earnings that exceeded analyst expectations, posting an earnings per share (EPS) of $0.19 against a consensus estimate of $0.04. The company reported quarterly revenue of $56.50 million, surpassing the expected $53.00 million.

Institutional activity has been notable for the company. According to recent SEC filings, Empowered Funds LLC acquired 220,316 shares in the second quarter. Other major institutional moves include BlackRock Inc. establishing a new position worth approximately $30.86 million, and Russell Investments Group Ltd. increasing its holdings to 964,693 shares. Additionally, Goldman Sachs Group Inc. and AQR Capital Management LLC have both significantly increased their stakes in the company.