Stonepine Capital Management LLC Makes New $718.36 Million Investment in PMV Pharmaceuticals, Inc. $PMVP

Stonepine Capital Management LLC bought a new position in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 536,086 shares of the company’s stock, valued at approximately $718,355,000. Stonepine Capital Management LLC owned approximately 1.01% of PMV Pharmaceuticals at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. Shay Capital LLC acquired a new stake in shares of PMV Pharmaceuticals in the second quarter valued at approximately $26,000. Vanguard Group Inc. boosted its position in PMV Pharmaceuticals by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 2,163,027 shares of the company’s stock valued at $3,028,000 after buying an additional 9,427 shares during the last quarter. Bridgeway Capital Management LLC boosted its position in PMV Pharmaceuticals by 115.5% in the 3rd quarter. Bridgeway Capital Management LLC now owns 320,653 shares of the company’s stock valued at $449,000 after buying an additional 171,853 shares during the last quarter. Algert Global LLC acquired a new stake in shares of PMV Pharmaceuticals in the 3rd quarter valued at $87,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of PMV Pharmaceuticals in the 3rd quarter valued at $282,000. 90.20% of the stock is owned by institutional investors.

PMV Pharmaceuticals Stock Performance

PMVP opened at $1.24 on Friday. The company has a fifty day moving average price of $1.24 and a two-hundred day moving average price of $1.29. PMV Pharmaceuticals, Inc. has a 52 week low of $1.02 and a 52 week high of $1.88. The firm has a market capitalization of $66.29 million, a PE ratio of -0.87 and a beta of 1.34.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its earnings results on Friday, August 14th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.39) by $0.05. Equities analysts forecast that PMV Pharmaceuticals, Inc. will post -1.38 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. LADENBURG THALM/SH SH initiated coverage on PMV Pharmaceuticals in a report on Wednesday, July 8th. They issued a “buy” rating and a $3.00 price target on the stock. Finally, Oppenheimer lowered their price objective on PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a research report on Wednesday, May 13th. One equities research 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 MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $4.00.

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.