PMV Pharmaceuticals (NASDAQ:PMVP) Stock Rating Lowered by Wall Street Zen

PMV Pharmaceuticals (NASDAQ:PMVP) was downgraded by investment analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Sunday, Wall Street Zen reports.

Other equities research analysts have also recently issued reports about the company. Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. HC Wainwright restated a “buy” rating and issued a $5.00 price objective on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $4.33.

PMV Pharmaceuticals Price Performance

PMVP stock opened at $1.25 on Friday. PMV Pharmaceuticals has a 52-week low of $1.02 and a 52-week high of $1.91. The stock has a market capitalization of $66.83 million, a price-to-earnings ratio of -0.88 and a beta of 1.52. The company has a 50-day moving average of $1.39 and a two-hundred day moving average of $1.30.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its earnings results on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.05. Equities analysts expect that PMV Pharmaceuticals will post -1.20 EPS for the current fiscal year.

Institutional Investors Weigh In On PMV Pharmaceuticals

Several institutional investors and hedge funds have recently bought and sold shares of PMVP. Rangeley Capital LLC lifted its holdings in shares of PMV Pharmaceuticals by 46.9% during the 1st quarter. Rangeley Capital LLC now owns 66,846 shares of the company’s stock worth $83,000 after acquiring an additional 21,346 shares during the period. BML Capital Management LLC increased its stake in PMV Pharmaceuticals by 0.5% in the first quarter. BML Capital Management LLC now owns 5,320,000 shares of the company’s stock valued at $6,597,000 after acquiring an additional 28,000 shares during the period. Hsbc Holdings PLC bought a new stake in PMV Pharmaceuticals in the second quarter valued at about $41,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in PMV Pharmaceuticals in the second quarter worth about $43,000. Finally, Susquehanna International Group LLP acquired a new position in PMV Pharmaceuticals in the second quarter worth about $50,000. Institutional investors own 90.20% of the company’s stock.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-causing mutations in the tumor suppressor protein p53. The company aims to discover and develop small-molecule medicines designed to restore the normal tumor-suppressing function of mutant p53 proteins.

PMV’s lead product candidate is rezatapopt, also known as PC14586, an investigational oral therapy designed to selectively target the p53 Y220C mutation. This mutation occurs in a range of solid tumors, and rezatapopt is being evaluated for its potential to reactivate the altered p53 protein and inhibit cancer-cell growth.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals is advancing rezatapopt through clinical development in patients with advanced solid tumors containing the p53 Y220C mutation.