PMV Pharmaceuticals (NASDAQ:PMVP) Stock Rating Upgraded by Evercore

PMV Pharmaceuticals (NASDAQ:PMVP) was upgraded by investment analysts at Evercore to a “strong-buy” rating in a research report issued on Monday,Zacks.com reports.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of PMV Pharmaceuticals in a research report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, PMV Pharmaceuticals has a consensus rating of “Moderate Buy”.

PMV Pharmaceuticals Price Performance

PMVP opened at $1.35 on Monday. PMV Pharmaceuticals has a 12 month low of $0.81 and a 12 month high of $1.88. The stock has a market cap of $72.00 million, a P/E ratio of -0.91 and a beta of 1.40. The stock’s 50 day moving average price is $1.32 and its 200 day moving average price is $1.31.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its earnings results on Friday, March 6th. The company reported ($0.34) EPS for the quarter, beating the consensus estimate of ($0.40) by $0.06. Equities analysts anticipate that PMV Pharmaceuticals will post -1.06 EPS for the current year.

Institutional Investors Weigh In On PMV Pharmaceuticals

A number of institutional investors have recently added to or reduced their stakes in the company. BML Capital Management LLC lifted its position in PMV Pharmaceuticals by 5.8% in the third quarter. BML Capital Management LLC now owns 5,292,000 shares of the company’s stock worth $7,409,000 after purchasing an additional 292,000 shares during the period. Tang Capital Management LLC lifted its position in PMV Pharmaceuticals by 3.2% in the fourth quarter. Tang Capital Management LLC now owns 4,940,000 shares of the company’s stock worth $6,175,000 after purchasing an additional 154,799 shares during the period. ArrowMark Colorado Holdings LLC lifted its position in PMV Pharmaceuticals by 3.6% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,301,341 shares of the company’s stock worth $4,622,000 after purchasing an additional 113,225 shares during the period. Vanguard Group Inc. lifted its position in PMV Pharmaceuticals by 0.4% in the third quarter. Vanguard Group Inc. now owns 2,163,027 shares of the company’s stock worth $3,028,000 after purchasing an additional 9,427 shares during the period. Finally, Jane Street Group LLC lifted its position in PMV Pharmaceuticals by 30.5% in the fourth quarter. Jane Street Group LLC now owns 498,641 shares of the company’s stock worth $623,000 after purchasing an additional 116,591 shares during the period. 90.20% of the stock is currently owned by institutional investors and hedge funds.

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.