PMV Pharmaceuticals (NASDAQ:PMVP) Issues Quarterly Earnings Results, Beats Estimates By $0.06 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) issued its earnings results on Friday. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06, FiscalAI reports.

PMV Pharmaceuticals Trading Up 7.2%

NASDAQ:PMVP opened at $1.64 on Friday. The stock’s 50-day moving average is $1.20 and its 200-day moving average is $1.30. PMV Pharmaceuticals has a 1-year low of $0.81 and a 1-year high of $1.88. The stock has a market cap of $87.26 million, a P/E ratio of -1.10 and a beta of 1.27.

Institutional Investors Weigh In On PMV Pharmaceuticals

Several hedge funds have recently added to or reduced their stakes in PMVP. Shay Capital LLC bought a new stake in PMV Pharmaceuticals during the 2nd quarter worth approximately $26,000. Squarepoint Ops LLC raised its stake 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 valued at $33,000 after acquiring an additional 13,367 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of 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 acquiring an additional 21,334 shares during the last quarter. Algert Global LLC acquired a new position in shares of PMV Pharmaceuticals during the third quarter worth $87,000. Finally, Jacobs Levy Equity Management Inc. acquired a new position in shares of PMV Pharmaceuticals during the third quarter worth $96,000. 90.20% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of PMV Pharmaceuticals in a report on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $5.00.

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.