PMV Pharmaceuticals (NASDAQ:PMVP) Releases Earnings Results, Beats Expectations By $0.07 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) released its earnings results on Tuesday. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.07, FiscalAI reports.

PMV Pharmaceuticals Stock Up 0.4%

PMVP traded up $0.01 during midday trading on Thursday, hitting $1.30. 315,670 shares of the company traded hands, compared to its average volume of 542,733. The firm has a market capitalization of $69.06 million, a PE ratio of -0.87 and a beta of 1.41. The company’s 50-day moving average is $1.43 and its 200 day moving average is $1.30. PMV Pharmaceuticals has a 52 week low of $0.81 and a 52 week high of $1.88.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Weiss Ratings raised shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Wednesday, April 29th. Evercore raised shares of PMV Pharmaceuticals to a “strong-buy” rating in a research report on Monday, April 13th. Finally, Oppenheimer cut 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 report on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $5.00.

Hedge Funds Weigh In On PMV Pharmaceuticals

Several hedge funds and other institutional investors have recently bought and sold shares of PMVP. Shay Capital LLC bought a new position in PMV Pharmaceuticals during the 2nd quarter valued at about $26,000. Vanguard Group Inc. lifted its stake in PMV Pharmaceuticals by 0.4% during the 3rd quarter. Vanguard Group Inc. now owns 2,163,027 shares of the company’s stock valued at $3,028,000 after acquiring an additional 9,427 shares during the period. Bridgeway Capital Management LLC lifted its stake in shares of PMV Pharmaceuticals by 115.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 320,653 shares of the company’s stock worth $449,000 after purchasing an additional 171,853 shares during the period. Algert Global LLC bought a new position in shares of PMV Pharmaceuticals in the 3rd quarter worth approximately $87,000. Finally, Boothbay Fund Management LLC bought a new position in shares of PMV Pharmaceuticals in the 3rd quarter worth approximately $282,000. Institutional investors own 90.20% of the company’s stock.

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.