Peapod Lane Capital LLC Cuts Stake in PMV Pharmaceuticals, Inc. $PMVP

Peapod Lane Capital LLC reduced its stake in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 7.5% during the second quarter, according to its most recent filing with the SEC. The fund owned 452,682 shares of the company’s stock after selling 36,688 shares during the quarter. Peapod Lane Capital LLC owned 0.87% of PMV Pharmaceuticals worth $480,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Assenagon Asset Management S.A. lifted its holdings in PMV Pharmaceuticals by 128.7% during the second quarter. Assenagon Asset Management S.A. now owns 263,059 shares of the company’s stock valued at $279,000 after purchasing an additional 148,021 shares during the last quarter. BML Capital Management LLC lifted its holdings in PMV Pharmaceuticals by 8.1% during the first quarter. BML Capital Management LLC now owns 3,747,612 shares of the company’s stock valued at $4,085,000 after purchasing an additional 280,928 shares during the last quarter. Stonepine Capital Management LLC lifted its holdings in PMV Pharmaceuticals by 17.6% during the first quarter. Stonepine Capital Management LLC now owns 630,183 shares of the company’s stock valued at $687,000 after purchasing an additional 94,378 shares during the last quarter. Finally, Aldebaran Capital LLC lifted its holdings in PMV Pharmaceuticals by 4.3% during the first quarter. Aldebaran Capital LLC now owns 523,553 shares of the company’s stock valued at $571,000 after purchasing an additional 21,363 shares during the last quarter. 90.20% of the stock is owned by hedge funds and other institutional investors.

PMV Pharmaceuticals Trading Down 1.3%

Shares of PMV Pharmaceuticals stock opened at $1.56 on Friday. PMV Pharmaceuticals, Inc. has a 12-month low of $0.81 and a 12-month high of $1.84. The company has a market cap of $82.66 million, a price-to-earnings ratio of -0.99 and a beta of 1.51. The company’s 50-day moving average price is $1.41 and its 200-day moving average price is $1.22.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its quarterly earnings results on Thursday, August 7th. The company reported ($0.41) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.02). On average, sell-side analysts predict that PMV Pharmaceuticals, Inc. will post -1.06 earnings per share for the current year.

Insider Activity

In other PMV Pharmaceuticals news, major shareholder Orbimed Advisors Llc sold 500,000 shares of PMV Pharmaceuticals stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $1.80, for a total transaction of $900,000.00. Following the completion of the sale, the insider directly owned 5,975,291 shares in the company, valued at $10,755,523.80. The trade was a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 7.57% of the company’s stock.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PMV Pharmaceuticals in a report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, PMV Pharmaceuticals has an average rating of “Hold” and a consensus price target of $5.50.

PMV Pharmaceuticals 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.