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

Eversept Partners LP bought a new position in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,348,360 shares of the company’s stock, valued at approximately $2,912,000. Eversept Partners LP owned 4.40% of PMV Pharmaceuticals as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also bought and sold shares of the company. Shay Capital LLC bought a new position in PMV Pharmaceuticals in the 2nd quarter valued at about $26,000. Squarepoint Ops LLC boosted its holdings 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 acquiring an additional 13,367 shares during the period. Public Employees Retirement System of Ohio grew its position in shares of PMV Pharmaceuticals by 349.7% in 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 during the last quarter. Seven Fleet Capital Management LP acquired a new position in shares of PMV Pharmaceuticals in the fourth quarter valued at approximately $79,000. Finally, Rangeley Capital LLC increased its stake in shares of PMV Pharmaceuticals by 46.9% during the first quarter. Rangeley Capital LLC now owns 66,846 shares of the company’s stock worth $83,000 after purchasing an additional 21,346 shares during the period. Institutional investors and hedge funds own 90.20% of the company’s stock.

PMV Pharmaceuticals Stock Down 4.8%

Shares of NASDAQ:PMVP opened at $1.18 on Tuesday. PMV Pharmaceuticals, Inc. has a 12-month low of $1.02 and a 12-month high of $1.88. 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 cap of $62.93 million, a PE ratio of -0.79 and a beta of 1.33.

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

Wall Street Analyst Weigh In

PMVP has been the subject of several research reports. Evercore raised PMV Pharmaceuticals to a “strong-buy” rating in a report on Monday, April 13th. Oppenheimer decreased their price objective on PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a report on Wednesday, May 13th. 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 on the stock. Finally, Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. One investment analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target 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.