PMV Pharmaceuticals (NASDAQ:PMVP) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) released its earnings results on Thursday. The company reported ($0.34) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05, FiscalAI reports.

PMV Pharmaceuticals Stock Up 3.7%

Shares of NASDAQ:PMVP opened at $1.26 on Friday. The firm’s 50 day moving average price is $1.20 and its 200 day moving average price is $1.28. The stock has a market cap of $67.20 million, a price-to-earnings ratio of -0.85 and a beta of 1.34. PMV Pharmaceuticals has a fifty-two week low of $1.02 and a fifty-two week high of $1.88.

Institutional Investors Weigh In On PMV Pharmaceuticals

A number of large investors have recently modified their holdings of PMVP. XTX Topco Ltd raised its holdings in shares of PMV Pharmaceuticals by 144.3% in the 4th quarter. XTX Topco Ltd now owns 104,485 shares of the company’s stock valued at $131,000 after purchasing an additional 61,723 shares in the last quarter. Tang Capital Management LLC increased its holdings 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 last quarter. Bridgeway Capital Management LLC increased its holdings in PMV Pharmaceuticals by 33.7% in the fourth 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 during the last quarter. Public Employees Retirement System of Ohio increased its holdings in PMV Pharmaceuticals by 349.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company’s stock valued at $34,000 after buying an additional 21,334 shares during the last quarter. Finally, Squarepoint Ops LLC raised its stake in PMV Pharmaceuticals by 101.8% in the fourth quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock valued at $33,000 after buying an additional 13,367 shares in the last quarter. 90.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Oppenheimer dropped their price target on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Weiss Ratings upgraded PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday. Finally, LADENBURG THALM/SH SH began coverage on PMV Pharmaceuticals in a report on Wednesday, July 8th. They issued a “buy” rating and a $3.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $4.00.

PMV Pharmaceuticals Company Profile

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.