PMV Pharmaceuticals (NASDAQ:PMVP) Major Shareholder Orbimed Advisors Llc Sells 1,000,000 Shares

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) major shareholder Orbimed Advisors Llc sold 1,000,000 shares of the stock in a transaction that occurred on Thursday, October 23rd. The stock was sold at an average price of $1.52, for a total transaction of $1,520,000.00. Following the sale, the insider owned 4,975,291 shares in the company, valued at $7,562,442.32. This represents a 16.74% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Wednesday, September 10th, Orbimed Advisors Llc sold 500,000 shares of PMV Pharmaceuticals stock. The stock was sold at an average price of $1.80, for a total transaction of $900,000.00.

PMV Pharmaceuticals Trading Up 1.3%

NASDAQ PMVP opened at $1.58 on Tuesday. The firm has a market capitalization of $83.72 million, a price-to-earnings ratio of -1.01 and a beta of 1.51. The firm’s 50 day simple moving average is $1.41 and its 200 day simple moving average is $1.23. PMV Pharmaceuticals, Inc. has a 1 year low of $0.81 and a 1 year high of $1.84.

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

Analyst Ratings Changes

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

Hedge Funds Weigh In On PMV Pharmaceuticals

Several large investors have recently modified their holdings of PMVP. Acadian Asset Management LLC boosted its position in shares of PMV Pharmaceuticals by 0.9% during the 2nd quarter. Acadian Asset Management LLC now owns 2,066,137 shares of the company’s stock worth $2,188,000 after purchasing an additional 18,960 shares in the last quarter. Aldebaran Capital LLC boosted its position in shares of PMV Pharmaceuticals by 4.3% during the 1st quarter. Aldebaran Capital LLC now owns 523,553 shares of the company’s stock worth $571,000 after purchasing an additional 21,363 shares in the last quarter. Shay Capital LLC bought a new position in shares of PMV Pharmaceuticals during the 2nd quarter worth about $26,000. Peapod Lane Capital LLC boosted its position in shares of PMV Pharmaceuticals by 9.8% during the 1st quarter. Peapod Lane Capital LLC now owns 489,370 shares of the company’s stock worth $533,000 after purchasing an additional 43,626 shares in the last quarter. Finally, Stonepine Capital Management LLC boosted its position in shares of PMV Pharmaceuticals by 17.6% during the 1st quarter. Stonepine Capital Management LLC now owns 630,183 shares of the company’s stock worth $687,000 after purchasing an additional 94,378 shares in the last quarter. 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.