PMV Pharmaceuticals (NASDAQ:PMVP) Trading Up 0.9% – Here’s What Happened

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

Wall Street Analysts Forecast Growth

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

PMV Pharmaceuticals Trading Up 0.9%

The firm’s 50 day moving average price is $1.16 and its 200-day moving average price is $1.31. The company has a market cap of $56.93 million, a P/E ratio of -0.67 and a beta of 1.39.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. XTX Topco Ltd grew its stake in shares of PMV Pharmaceuticals by 144.3% during the fourth quarter. XTX Topco Ltd now owns 104,485 shares of the company’s stock worth $131,000 after purchasing an additional 61,723 shares during the period. Tang Capital Management LLC lifted its stake in PMV Pharmaceuticals by 3.2% in the fourth 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 during the period. Bridgeway Capital Management LLC boosted its holdings in PMV Pharmaceuticals by 33.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 428,853 shares of the company’s stock worth $536,000 after buying an additional 108,200 shares during the last quarter. Public Employees Retirement System of Ohio grew its position in shares of 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 buying an additional 21,334 shares during the period. Finally, Squarepoint Ops LLC increased its stake in shares of PMV Pharmaceuticals by 101.8% in the 4th quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock valued at $33,000 after acquiring an additional 13,367 shares during the last quarter. 90.20% of the stock is currently owned by institutional investors.

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.