PMV Pharmaceuticals (NASDAQ:PMVP) Announces Earnings Results, Beats Estimates By $0.05 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) issued its quarterly earnings data on Thursday. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.39) by $0.05, FiscalAI reports.

PMV Pharmaceuticals Stock Up 3.7%

Shares of PMVP opened at $1.26 on Friday. The stock has a market cap of $67.20 million, a P/E ratio of -0.85 and a beta of 1.34. The business’s 50 day moving average price is $1.20 and its 200-day moving average price is $1.28. PMV Pharmaceuticals has a 52 week low of $1.02 and a 52 week high of $1.88.

Hedge Funds Weigh In On PMV Pharmaceuticals

Several institutional investors have recently made changes to their positions in PMVP. Shay Capital LLC bought a new position in shares of PMV Pharmaceuticals in the second quarter worth about $26,000. Squarepoint Ops LLC raised its stake in PMV Pharmaceuticals by 101.8% during the 4th quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock worth $33,000 after acquiring an additional 13,367 shares during the period. Public Employees Retirement System of Ohio lifted its holdings in PMV Pharmaceuticals by 349.7% during the fourth 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. Algert Global LLC bought a new position in shares of PMV Pharmaceuticals in the third quarter worth approximately $87,000. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of PMV Pharmaceuticals in the third quarter worth $96,000. Institutional investors own 90.20% of the company’s stock.

Wall Street Analysts Forecast Growth

PMVP has been the topic of a number of research analyst reports. Weiss Ratings upgraded PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday. Oppenheimer reduced their price target 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. Finally, LADENBURG THALM/SH SH initiated coverage on PMV Pharmaceuticals in a research report on Wednesday, July 8th. They set a “buy” rating and a $3.00 price objective 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. According to MarketBeat.com, PMV Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $4.00.

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.