Assenagon Asset Management S.A. Boosts Holdings in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Assenagon Asset Management S.A. raised its holdings in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 267.2% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 260,028 shares of the company’s stock after purchasing an additional 189,214 shares during the period. Assenagon Asset Management S.A. owned 0.51% of PMV Pharmaceuticals worth $421,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Tower Research Capital LLC TRC raised its position in shares of PMV Pharmaceuticals by 344.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 9,508 shares of the company’s stock worth $29,000 after purchasing an additional 7,368 shares during the last quarter. Independent Advisor Alliance purchased a new stake in shares of PMV Pharmaceuticals in the fourth quarter valued at $39,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of PMV Pharmaceuticals in the first quarter valued at $26,000. Public Employees Retirement System of Ohio boosted its stake in shares of PMV Pharmaceuticals by 174.2% during the first quarter. Public Employees Retirement System of Ohio now owns 22,757 shares of the company’s stock valued at $39,000 after acquiring an additional 14,457 shares during the last quarter. Finally, Aristides Capital LLC purchased a new stake in PMV Pharmaceuticals during the 4th quarter worth about $97,000. 90.20% of the stock is currently owned by institutional investors and hedge funds.

PMV Pharmaceuticals Price Performance

PMVP opened at $1.55 on Friday. PMV Pharmaceuticals, Inc. has a 12 month low of $1.18 and a 12 month high of $7.64. The business has a 50-day moving average of $1.58 and a two-hundred day moving average of $1.71. The stock has a market capitalization of $79.74 million, a price-to-earnings ratio of -1.17 and a beta of 1.53.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.32. Equities research analysts anticipate that PMV Pharmaceuticals, Inc. will post -1.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. CLSA raised shares of PMV Pharmaceuticals to a “strong-buy” rating in a research note on Monday, May 13th. Craig Hallum began coverage on shares of PMV Pharmaceuticals in a research report on Monday, May 13th. They set a “buy” rating and a $6.00 target price on the stock. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of PMV Pharmaceuticals in a research note on Tuesday, August 20th. Four analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, PMV Pharmaceuticals presently has an average rating of “Buy” and an average target price of $5.75.

About PMV Pharmaceuticals

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.