Short Interest in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Declines By 18.8%

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) was the recipient of a large decrease in short interest during the month of February. As of February 13th, there was short interest totaling 1,503,564 shares, a decrease of 18.8% from the January 29th total of 1,851,701 shares. Based on an average daily volume of 265,492 shares, the days-to-cover ratio is currently 5.7 days. Currently, 3.1% of the shares of the company are short sold. Currently, 3.1% of the shares of the company are short sold. Based on an average daily volume of 265,492 shares, the days-to-cover ratio is currently 5.7 days.

PMV Pharmaceuticals Price Performance

Shares of NASDAQ:PMVP traded down $0.18 during trading on Tuesday, reaching $1.62. The company had a trading volume of 1,176,089 shares, compared to its average volume of 656,108. PMV Pharmaceuticals has a fifty-two week low of $0.81 and a fifty-two week high of $1.88. The stock’s fifty day moving average price is $1.17 and its 200 day moving average price is $1.30. The firm has a market capitalization of $86.20 million, a price-to-earnings ratio of -1.01 and a beta of 1.39.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On PMV Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Seven Fleet Capital Management LP purchased a new stake in shares of PMV Pharmaceuticals in the fourth quarter valued at about $79,000. XTX Topco Ltd raised its holdings in 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 in the last quarter. Tang Capital Management LLC lifted its position 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 purchasing an additional 154,799 shares during the period. Bridgeway Capital Management LLC lifted its position 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 purchasing an additional 108,200 shares during the period. Finally, Public Employees Retirement System of Ohio boosted its holdings in PMV Pharmaceuticals by 349.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company’s stock valued at $34,000 after purchasing an additional 21,334 shares in the last quarter. 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.