PMV Pharmaceuticals (NASDAQ:PMVP) Trading Up 0.9% – Time to Buy?

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) were up 0.9% on Wednesday . The stock traded as high as $1.09 and last traded at $1.07. Approximately 56,035 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 278,165 shares. The stock had previously closed at $1.06.

Wall Street Analyst Weigh In

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

PMV Pharmaceuticals Price Performance

The stock has a market capitalization of $56.93 million, a P/E ratio of -0.67 and a beta of 1.39. The company’s 50 day simple moving average is $1.16 and its two-hundred day simple moving average is $1.31.

Institutional Trading of PMV Pharmaceuticals

Several large investors have recently made changes to their positions in PMVP. Shay Capital LLC acquired a new stake in shares of PMV Pharmaceuticals in the second quarter valued at $26,000. Squarepoint Ops LLC grew its holdings in PMV Pharmaceuticals by 101.8% during the 4th quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock worth $33,000 after acquiring an additional 13,367 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in PMV Pharmaceuticals by 349.7% during the 4th quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company’s stock worth $34,000 after acquiring an additional 21,334 shares during the last quarter. Algert Global LLC acquired a new stake in PMV Pharmaceuticals in the 3rd quarter valued at about $87,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of PMV Pharmaceuticals in the third quarter worth about $96,000. Institutional investors own 90.20% of the company’s stock.

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.