Stonepine Capital Management LLC Makes New $718,355 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 disclosure with the Securities and Exchange Commission (SEC). The fund bought 536,086 shares of the company’s stock, valued at approximately $718,355. Stonepine Capital Management LLC owned about 1.01% of PMV Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in the company. Eversept Partners LP acquired a new position in PMV Pharmaceuticals in the first quarter valued at about $2,912,000. BlackRock Inc. purchased a new stake in shares of PMV Pharmaceuticals in the 2nd quarter valued at $1,233,000. Walleye Capital LLC purchased a new stake in shares of PMV Pharmaceuticals in the 2nd quarter worth approximately $450,000. Bank of America Corp DE bought a new position in PMV Pharmaceuticals in the 2nd quarter worth $322,000. Finally, Assenagon Asset Management S.A. raised its stake in shares of PMV Pharmaceuticals by 156.8% during the first quarter. Assenagon Asset Management S.A. now owns 360,786 shares of the company’s stock valued at $447,000 after acquiring an additional 220,318 shares in the last quarter. Institutional investors own 90.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. LADENBURG THALM/SH SH began coverage on PMV Pharmaceuticals in a research report on Wednesday, July 8th. They set a “buy” rating and a $3.00 target price on the stock. Oppenheimer dropped their target price on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an “outperform” rating for the company in a research note on Wednesday, May 13th. Finally, Weiss Ratings upgraded shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Wednesday, August 12th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, PMV Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $4.00.

PMV Pharmaceuticals Stock Performance

Shares of PMV Pharmaceuticals stock traded down $0.02 during trading hours on Friday, reaching $1.22. 90,893 shares of the company were exchanged, compared to its average volume of 437,158. PMV Pharmaceuticals, Inc. has a 1 year low of $1.02 and a 1 year high of $1.88. The stock’s fifty day moving average is $1.24 and its 200 day moving average is $1.29. The firm has a market cap of $65.22 million, a PE ratio of -0.86 and a beta of 1.34.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.39) by $0.05. Research analysts expect that PMV Pharmaceuticals, Inc. will post -1.38 earnings per share for the current year.

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.