PMV Pharmaceuticals (NASDAQ:PMVP) Hits New 1-Year Low at $27.00

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $27.00 and last traded at $27.16, with a volume of 3047 shares changing hands. The stock had previously closed at $28.01.

Separately, Zacks Investment Research upgraded PMV Pharmaceuticals from a “sell” rating to a “hold” rating in a research report on Tuesday, January 19th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $38.00.

The stock has a 50 day simple moving average of $33.75 and a two-hundred day simple moving average of $39.20.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its quarterly earnings data on Wednesday, March 3rd. The company reported $3.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of ($1.27) by $4.80. On average, research analysts forecast that PMV Pharmaceuticals, Inc. will post -2.97 EPS for the current fiscal year.

In other PMV Pharmaceuticals news, CFO Winston Kung sold 4,500 shares of the business’s stock in a transaction on Monday, May 3rd. The stock was sold at an average price of $33.75, for a total value of $151,875.00. Following the completion of the transaction, the chief financial officer now directly owns 6,100 shares in the company, valued at approximately $205,875. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Thilo Schroeder sold 35,268 shares of the business’s stock in a transaction on Friday, March 26th. The shares were sold at an average price of $33.44, for a total value of $1,179,361.92. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 307,581 shares of company stock valued at $10,497,067.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Alliancebernstein L.P. raised its holdings in PMV Pharmaceuticals by 5.4% in the 1st quarter. Alliancebernstein L.P. now owns 9,800 shares of the company’s stock valued at $322,000 after acquiring an additional 500 shares during the last quarter. Principal Financial Group Inc. grew its stake in shares of PMV Pharmaceuticals by 1.0% during the 1st quarter. Principal Financial Group Inc. now owns 198,422 shares of the company’s stock valued at $6,526,000 after buying an additional 1,967 shares during the period. New York State Common Retirement Fund grew its stake in shares of PMV Pharmaceuticals by 19.8% during the 1st quarter. New York State Common Retirement Fund now owns 12,700 shares of the company’s stock valued at $418,000 after buying an additional 2,100 shares during the period. Citigroup Inc. purchased a new stake in shares of PMV Pharmaceuticals during the 4th quarter valued at $158,000. Finally, Strs Ohio purchased a new stake in shares of PMV Pharmaceuticals during the 4th quarter valued at $202,000. Institutional investors own 69.72% of the company’s stock.

PMV Pharmaceuticals Company Profile (NASDAQ:PMVP)

PMV Pharmaceuticals, Inc, a precision oncology company, engages in the discovery and development of small molecule, tumor-agnostic therapies for p53 mutations in cancer. The company's lead product candidate is PC14586, a small molecule that corrects a p53 protein containing the Y220C mutation and restores p53 function.

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