PMV Pharmaceuticals (NASDAQ:PMVP) Raised to “Strong-Buy” at Evercore

PMV Pharmaceuticals (NASDAQ:PMVP) was upgraded by investment analysts at Evercore to a “strong-buy” rating in a research note issued on Monday,Zacks.com reports.

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of PMV Pharmaceuticals in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

PMV Pharmaceuticals Stock Up 8.9%

Shares of PMV Pharmaceuticals stock opened at $1.47 on Monday. The stock has a market cap of $78.40 million, a P/E ratio of -0.99 and a beta of 1.40. PMV Pharmaceuticals has a 12-month low of $0.81 and a 12-month high of $1.88. The business’s 50 day moving average is $1.33 and its 200-day moving average is $1.31.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its earnings results on Friday, March 6th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. On average, sell-side analysts expect that PMV Pharmaceuticals will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in PMVP. BML Capital Management LLC grew its holdings in PMV Pharmaceuticals by 5.8% in the 3rd quarter. BML Capital Management LLC now owns 5,292,000 shares of the company’s stock valued at $7,409,000 after buying an additional 292,000 shares in the last quarter. Tang Capital Management LLC grew its holdings in PMV Pharmaceuticals by 3.2% in the 4th quarter. Tang Capital Management LLC now owns 4,940,000 shares of the company’s stock valued at $6,175,000 after buying an additional 154,799 shares in the last quarter. ArrowMark Colorado Holdings LLC grew its holdings in PMV Pharmaceuticals by 3.6% in the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,301,341 shares of the company’s stock valued at $4,622,000 after buying an additional 113,225 shares in the last quarter. Vanguard Group Inc. grew its holdings in PMV Pharmaceuticals by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,163,027 shares of the company’s stock valued at $3,028,000 after buying an additional 9,427 shares in the last quarter. Finally, Jane Street Group LLC grew its holdings in PMV Pharmaceuticals by 30.5% in the 4th quarter. Jane Street Group LLC now owns 498,641 shares of the company’s stock valued at $623,000 after buying an additional 116,591 shares in the last quarter. 90.20% of the stock is owned by institutional investors and hedge funds.

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. 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.