PMV Pharmaceuticals (NASDAQ:PMVP) Announces Earnings Results, Beats Estimates By $0.07 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) issued its quarterly earnings results on Tuesday. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.07, FiscalAI reports.

PMV Pharmaceuticals Price Performance

Shares of PMVP traded down $0.04 during midday trading on Wednesday, reaching $1.39. The stock had a trading volume of 177,747 shares, compared to its average volume of 535,691. The company has a market cap of $73.86 million, a price-to-earnings ratio of -0.94 and a beta of 1.41. The company’s fifty day simple moving average is $1.44 and its two-hundred day simple moving average is $1.31. PMV Pharmaceuticals has a 1-year low of $0.81 and a 1-year high of $1.88.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on PMVP. Weiss Ratings upgraded shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. Oppenheimer set a $5.00 price objective on PMV Pharmaceuticals in a research report on Wednesday. Finally, Evercore upgraded PMV Pharmaceuticals to a “strong-buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $5.00.

Institutional Trading of PMV Pharmaceuticals

A number of institutional investors have recently bought and sold shares of PMVP. Tang Capital Management LLC increased its holdings in shares of 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 acquiring an additional 154,799 shares during the last quarter. Vanguard Group Inc. increased its stake in PMV Pharmaceuticals by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,163,027 shares of the company’s stock valued at $3,028,000 after purchasing an additional 9,427 shares during the last quarter. Jane Street Group LLC raised its holdings in PMV Pharmaceuticals by 30.5% during the fourth quarter. Jane Street Group LLC now owns 498,641 shares of the company’s stock worth $623,000 after purchasing an additional 116,591 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of PMV Pharmaceuticals by 3.3% during the 4th quarter. Geode Capital Management LLC now owns 446,140 shares of the company’s stock worth $558,000 after buying an additional 14,320 shares during the last quarter. Finally, Bridgeway Capital Management LLC boosted its holdings in shares of PMV Pharmaceuticals by 33.7% in the 4th quarter. Bridgeway Capital Management LLC now owns 428,853 shares of the company’s stock valued at $536,000 after buying an additional 108,200 shares in the last quarter. 90.20% of the stock is owned by hedge funds and other 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.