PMV Pharmaceuticals (NASDAQ:PMVP) Shares Down 4.1% – Should You Sell?

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)’s share price dropped 4.1% during mid-day trading on Tuesday . The stock traded as low as $1.18 and last traded at $1.18. Approximately 422,161 shares traded hands during mid-day trading, an increase of 4% from the average daily volume of 405,617 shares. The stock had previously closed at $1.23.

Analyst Ratings Changes

PMVP has been the subject of a number of recent analyst reports. Evercore raised shares of PMV Pharmaceuticals to a “strong-buy” rating in a research report on Monday, April 13th. Weiss Ratings downgraded shares of PMV Pharmaceuticals from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Wednesday, May 13th. Finally, Oppenheimer decreased their target price on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $5.00.

PMV Pharmaceuticals Trading Down 4.1%

The company has a market cap of $62.93 million, a price-to-earnings ratio of -0.79 and a beta of 1.36. The firm’s 50-day moving average price is $1.34 and its 200 day moving average price is $1.29.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its quarterly earnings data on Tuesday, May 12th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.41) by $0.07. Analysts forecast that PMV Pharmaceuticals, Inc. will post -1.45 earnings per share for the current fiscal year.

Institutional Trading of PMV Pharmaceuticals

Several large investors have recently modified their holdings of the stock. ADAR1 Capital Management LLC grew its position in shares of PMV Pharmaceuticals by 128.7% during the 1st quarter. ADAR1 Capital Management LLC now owns 231,008 shares of the company’s stock worth $286,000 after buying an additional 130,000 shares during the period. Eversept Partners LP acquired a new stake in shares of PMV Pharmaceuticals during the 1st quarter worth approximately $2,912,000. Rangeley Capital LLC lifted its holdings in shares of PMV Pharmaceuticals by 46.9% in the 1st quarter. Rangeley Capital LLC now owns 66,846 shares of the company’s stock worth $83,000 after purchasing an additional 21,346 shares in the last quarter. BML Capital Management LLC lifted its holdings in shares of PMV Pharmaceuticals by 0.5% in the 1st quarter. BML Capital Management LLC now owns 5,320,000 shares of the company’s stock worth $6,597,000 after purchasing an additional 28,000 shares in the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of PMV Pharmaceuticals by 156.8% in the 1st quarter. Assenagon Asset Management S.A. now owns 360,786 shares of the company’s stock worth $447,000 after purchasing an additional 220,318 shares in the last quarter. Institutional investors and hedge funds own 90.20% of the company’s stock.

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.