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

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

Analyst Ratings Changes

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

PMV Pharmaceuticals Trading Up 3.4%

The stock’s 50 day moving average price is $1.22 and its two-hundred day moving average price is $1.34. The firm has a market capitalization of $64.39 million, a PE ratio of -0.76 and a beta of 1.47.

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

Institutional Trading of PMV Pharmaceuticals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PMVP. Shay Capital LLC acquired a new position in PMV Pharmaceuticals in the 2nd quarter valued at about $26,000. Algert Global LLC purchased a new stake in shares of PMV Pharmaceuticals during the third quarter worth about $87,000. Jacobs Levy Equity Management Inc. purchased a new stake in shares of PMV Pharmaceuticals during the third quarter worth about $96,000. PNC Financial Services Group Inc. raised its position in shares of 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 during the last quarter. Finally, Assenagon Asset Management S.A. lifted its stake in shares of PMV Pharmaceuticals by 14.1% during the fourth quarter. Assenagon Asset Management S.A. now owns 140,468 shares of the company’s stock valued at $176,000 after buying an additional 17,376 shares during the period. Hedge funds and other 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.