PMV Pharmaceuticals (NASDAQ:PMVP) Trading Up 3.4% – Here’s Why

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) shares rose 3.4% during trading on Tuesday . The stock traded as high as $1.2450 and last traded at $1.21. Approximately 352,182 shares changed hands during trading, an increase of 40% from the average daily volume of 252,018 shares. The stock had previously closed at $1.17.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of PMV Pharmaceuticals in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, PMV Pharmaceuticals has a consensus rating of “Hold” and a consensus price target of $5.00.

PMV Pharmaceuticals Stock Up 3.4%

The stock has a market capitalization of $64.39 million, a PE ratio of -0.76 and a beta of 1.47. The firm’s fifty day moving average is $1.22 and its 200-day moving average is $1.34.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its earnings results on Wednesday, November 12th. The company reported ($0.40) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.40). On average, analysts expect that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current year.

Institutional Investors Weigh In On PMV Pharmaceuticals

Hedge funds and other institutional investors have recently bought and sold shares of the business. Shay Capital LLC purchased a new stake in shares of PMV Pharmaceuticals during the 2nd quarter worth $26,000. Algert Global LLC purchased a new stake in PMV Pharmaceuticals during the third quarter worth about $87,000. Jacobs Levy Equity Management Inc. acquired a new position in PMV Pharmaceuticals during the third quarter worth about $96,000. PNC Financial Services Group Inc. increased its holdings in PMV Pharmaceuticals by 16.7% in the third quarter. PNC Financial Services Group Inc. now owns 71,006 shares of the company’s stock valued at $99,000 after buying an additional 10,186 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its position in shares of PMV Pharmaceuticals by 14.1% during the 4th quarter. Assenagon Asset Management S.A. now owns 140,468 shares of the company’s stock valued at $176,000 after acquiring an additional 17,376 shares during the period. Institutional investors and hedge funds own 90.20% of the company’s stock.

PMV Pharmaceuticals Company 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. The company was formerly known as PJ Pharmaceuticals, Inc and changed its name to PMV Pharmaceuticals, Inc in July 2013. PMV Pharmaceuticals, Inc was incorporated in 2013 and is based in Princeton, New Jersey.