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

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

PMV Pharmaceuticals Trading Up 3.7%

NASDAQ PMVP traded up $0.04 on Friday, reaching $1.26. The stock had a trading volume of 189,817 shares, compared to its average volume of 307,718. PMV Pharmaceuticals has a 1 year low of $1.02 and a 1 year high of $1.88. The business has a 50 day moving average price of $1.20 and a 200 day moving average price of $1.28. The company has a market capitalization of $67.20 million, a price-to-earnings ratio of -0.85 and a beta of 1.34.

Wall Street Analysts Forecast Growth

PMVP has been the subject of a number of research analyst reports. Weiss Ratings raised shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday. LADENBURG THALM/SH SH began coverage on shares of 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, Oppenheimer dropped their price objective on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 13th. 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 company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $4.00.

Institutional Investors Weigh In On PMV Pharmaceuticals

Institutional investors have recently made changes to their positions in the company. Walleye Capital LLC raised its position in PMV Pharmaceuticals by 20.6% during the fourth quarter. Walleye Capital LLC now owns 335,694 shares of the company’s stock valued at $420,000 after acquiring an additional 57,235 shares in the last quarter. State Street Corp increased its stake in shares of PMV Pharmaceuticals by 16.2% during the 4th quarter. State Street Corp now owns 183,178 shares of the company’s stock worth $229,000 after purchasing an additional 25,600 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of PMV Pharmaceuticals by 30.5% during 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. Geode Capital Management LLC raised its holdings in shares of PMV Pharmaceuticals by 3.3% during 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 in the last quarter. Finally, Bank of America Corp DE lifted its stake in shares of PMV Pharmaceuticals by 457.5% in the 3rd quarter. Bank of America Corp DE now owns 162,496 shares of the company’s stock valued at $227,000 after purchasing an additional 133,349 shares during the last quarter. 90.20% of the stock is currently owned by institutional investors and hedge funds.

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.