PMV Pharmaceuticals (NASDAQ:PMVP) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of PMV Pharmaceuticals (NASDAQ:PMVP) from a sell rating to a hold rating in a report released on Saturday morning,Wall Street Zen reports.

Other 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 note on Thursday, September 24th. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of PMV Pharmaceuticals in a report on Friday, September 4th. Finally, LADENBURG THALM/SH SH started coverage on PMV Pharmaceuticals in a research report on Wednesday, July 8th. They set a “buy” rating and a $3.00 price target on the stock. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, PMV Pharmaceuticals presently has an average rating of “Moderate Buy” and a consensus price target of $4.33.

PMV Pharmaceuticals Trading Up 4.6%

Shares of PMV Pharmaceuticals stock opened at $1.37 on Friday. The stock has a market capitalization of $73.24 million, a price-to-earnings ratio of -0.96 and a beta of 1.36. PMV Pharmaceuticals has a 1-year low of $1.02 and a 1-year high of $1.91. The firm’s 50-day moving average price is $1.38 and its two-hundred day moving average price is $1.30.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.05. As a group, equities research analysts predict that PMV Pharmaceuticals will post -1.26 EPS for the current year.

Institutional Trading of PMV Pharmaceuticals

Hedge funds and other institutional investors have recently made changes to their positions in the stock. BML Capital Management LLC boosted its position in shares of PMV Pharmaceuticals by 0.5% during the 1st 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 last quarter. Eversept Partners LP purchased a new position in shares of PMV Pharmaceuticals during the 1st quarter valued at about $2,912,000. BlackRock Inc. bought a new stake in shares of PMV Pharmaceuticals in the 2nd quarter worth approximately $1,233,000. Stonepine Capital Management LLC bought a new stake in PMV Pharmaceuticals in the second quarter worth $718,355. Finally, Walleye Capital LLC bought a new stake in PMV Pharmaceuticals in the second quarter worth $450,000. 90.20% of the stock is currently owned by institutional investors.

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.