Eversept Partners LP Invests $2.91 Million in PMV Pharmaceuticals, Inc. $PMVP

Eversept Partners LP purchased a new position in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 2,348,360 shares of the company’s stock, valued at approximately $2,912,000.

A number of other hedge funds have also added to or reduced their stakes in PMVP. BML Capital Management LLC raised its position in PMV Pharmaceuticals by 0.5% during the first quarter. BML Capital Management LLC now owns 5,320,000 shares of the company’s stock valued at $6,597,000 after purchasing an additional 28,000 shares in the last quarter. Tang Capital Management LLC boosted 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 purchasing an additional 154,799 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of PMV Pharmaceuticals by 0.4% in the 3rd 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. Jane Street Group LLC boosted its holdings in shares of PMV Pharmaceuticals by 30.5% in the 4th quarter. Jane Street Group LLC now owns 498,641 shares of the company’s stock valued at $623,000 after purchasing an additional 116,591 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake 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 purchasing an additional 14,320 shares during the last quarter. 90.20% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PMVP has been the subject of a number of research analyst reports. LADENBURG THALM/SH SH assumed coverage on PMV Pharmaceuticals in a report on Wednesday, July 8th. They set a “buy” rating and a $3.00 price target for the company. Evercore raised PMV Pharmaceuticals to a “strong-buy” rating in a research note on Monday, April 13th. Oppenheimer decreased their target price on PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 13th. Finally, Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $4.00.

PMV Pharmaceuticals Price Performance

Shares of PMV Pharmaceuticals stock opened at $1.18 on Tuesday. The company’s 50 day moving average price is $1.22 and its two-hundred day moving average price is $1.27. The firm has a market capitalization of $62.93 million, a P/E ratio of -0.79 and a beta of 1.33. PMV Pharmaceuticals, Inc. has a fifty-two week low of $1.02 and a fifty-two week high of $1.88.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its quarterly earnings results on Tuesday, May 12th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.41) by $0.07. On average, analysts expect that PMV Pharmaceuticals, Inc. will post -1.45 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.