Federated Hermes Inc. Sells 80,201 Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Federated Hermes Inc. lessened its position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 10.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 703,338 shares of the company’s stock after selling 80,201 shares during the period. Federated Hermes Inc.’s holdings in PMV Pharmaceuticals were worth $2,180,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Connor Clark & Lunn Investment Management Ltd. increased its stake in shares of PMV Pharmaceuticals by 3.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 169,699 shares of the company’s stock valued at $1,042,000 after buying an additional 5,737 shares during the period. SG Americas Securities LLC acquired a new stake in shares of PMV Pharmaceuticals in the fourth quarter valued at about $65,000. Algert Global LLC acquired a new stake in shares of PMV Pharmaceuticals in the third quarter valued at about $171,000. PEAK6 Investments LLC acquired a new stake in shares of PMV Pharmaceuticals in the third quarter valued at about $200,000. Finally, Trexquant Investment LP acquired a new stake in shares of PMV Pharmaceuticals in the third quarter valued at about $419,000. Institutional investors and hedge funds own 90.20% of the company’s stock.

PMV Pharmaceuticals Stock Performance

Shares of NASDAQ PMVP opened at $1.75 on Monday. The stock has a market cap of $90.02 million, a PE ratio of -1.21 and a beta of 1.65. PMV Pharmaceuticals, Inc. has a fifty-two week low of $1.18 and a fifty-two week high of $9.72. The stock has a fifty day moving average of $1.70 and a 200-day moving average of $1.97.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its quarterly earnings results on Thursday, February 29th. The company reported ($0.31) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.08. On average, sell-side analysts predict that PMV Pharmaceuticals, Inc. will post -1.44 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on PMVP. Jefferies Financial Group began coverage on PMV Pharmaceuticals in a research note on Friday, April 12th. They issued a “buy” rating and a $5.00 price target for the company. HC Wainwright reaffirmed a “buy” rating and set a $5.00 target price on shares of PMV Pharmaceuticals in a research note on Thursday, March 7th.

PMV Pharmaceuticals Profile

PMV Pharmaceuticals, Inc, a precision oncology company, engages in the discovery and development of small molecule and tumor-agnostic therapies for p53 mutations in cancer. It's lead product candidate is PC14586, a small molecule that corrects mutant p53 protein containing the Y220C mutation and restores wild-type p53 function.