Stonepine Capital Management LLC Purchases New Position in PMV Pharmaceuticals, Inc. $PMVP

Stonepine Capital Management LLC acquired a new position in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) during the 2nd quarter, Holdings Channel reports. The fund acquired 536,086 shares of the company’s stock, valued at approximately $718,355,000.

Other institutional investors have also recently bought and sold shares of the company. 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 in the last quarter. Squarepoint Ops LLC boosted its position in shares of PMV Pharmaceuticals by 101.8% during the fourth quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock worth $33,000 after purchasing an additional 13,367 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of PMV Pharmaceuticals by 3.3% in the 4th quarter. Geode Capital Management LLC now owns 446,140 shares of the company’s stock valued at $558,000 after buying an additional 14,320 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of 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 buying an additional 21,334 shares during the period. Finally, Rangeley Capital LLC grew 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 valued at $83,000 after buying an additional 21,346 shares during the period. Institutional investors and hedge funds own 90.20% of the company’s stock.

Analyst Ratings Changes

PMVP has been the topic of several research analyst reports. Oppenheimer dropped their price objective on PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. 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 price target for the company. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, PMV Pharmaceuticals presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

PMV Pharmaceuticals Stock Performance

Shares of PMVP stock opened at $1.24 on Friday. The company has a market capitalization of $66.29 million, a P/E ratio of -0.87 and a beta of 1.34. The company’s 50 day moving average price is $1.24 and its two-hundred day moving average price is $1.29. PMV Pharmaceuticals, Inc. has a 52 week low of $1.02 and a 52 week high of $1.88.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its quarterly earnings results on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. Analysts forecast that PMV Pharmaceuticals, Inc. will post -1.38 earnings per share for the current year.

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.