Adrian Senderowicz, a director of Puma Biotechnology, Inc. (NASDAQ:PBYI), sold a total of 27,000 shares of the company’s common stock, according to a recent SEC filing. The transactions, which occurred on June 13, 2024, resulted in a total sales value of approximately $89,818.
The shares were sold at a weighted average price of $3.3266, with individual transactions occurring in a price range of $3.2801 to $3.5401. Following the sale, Senderowicz no longer holds any common shares of Puma Biotechnology.
The sale was executed under a 10b5-1(c) trading plan, adopted on December 15, 2023. This plan allows insiders to establish pre-arranged plans to buy or sell shares at pre-determined times, providing a defense against potential insider trading claims.
Investors and followers of Puma Biotechnology will note that insider transactions can provide valuable insights into a company’s prospects and the level of confidence of its executives and directors. However, it is important to consider the broader context when interpreting these sales, including the reasons why the individual sold and the overall patterns of insider trading.
The sale by Senderowicz was duly signed off by Attorney Gordon Esplin, as indicated in the June 17, 2024 SEC filing.
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