PMV Pharmaceuticals (NASDAQ:PMVP) Announces Quarterly Earnings Results, Hits Expectations

PMV Pharmaceuticals (NASDAQ:PMVP) issued its quarterly earnings results on Wednesday. The company reported ($0.40) EPS for the quarter, meeting the consensus estimate of ($0.40), Zacks reports.

PMV Pharmaceuticals Trading Down 4.6%

Shares of NASDAQ:PMVP traded down $0.07 during trading on Thursday, reaching $1.36. 116,365 shares of the stock were exchanged, compared to its average volume of 510,615. PMV Pharmaceuticals has a 12 month low of $0.81 and a 12 month high of $1.84. The stock has a 50-day moving average price of $1.39 and a 200-day moving average price of $1.26. The firm has a market cap of $71.80 million, a PE ratio of -0.86 and a beta of 1.54.

Insiders Place Their Bets

In related news, major shareholder Orbimed Advisors Llc sold 1,000,000 shares of the business’s stock in a transaction on Thursday, October 23rd. The stock was sold at an average price of $1.52, for a total value of $1,520,000.00. Following the completion of the sale, the insider directly owned 4,975,291 shares in the company, valued at $7,562,442.32. The trade was a 16.74% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 7.57% of the company’s stock.

Institutional Investors Weigh In On PMV Pharmaceuticals

A hedge fund recently bought a new stake in PMV Pharmaceuticals stock. Shay Capital LLC purchased a new stake in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 24,310 shares of the company’s stock, valued at approximately $26,000. 90.20% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of PMV Pharmaceuticals in a research note on Wednesday, November 5th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, PMV Pharmaceuticals currently has an average rating of “Hold” and an average target price of $5.00.

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.