Rhumbline Advisers Cuts Position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Rhumbline Advisers reduced its holdings in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 63.3% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 23,035 shares of the company’s stock after selling 39,693 shares during the period. Rhumbline Advisers’ holdings in PMV Pharmaceuticals were worth $37,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. acquired a new stake in PMV Pharmaceuticals in the 1st quarter valued at $26,000. Public Employees Retirement System of Ohio boosted its position in shares of PMV Pharmaceuticals by 174.2% in the first quarter. Public Employees Retirement System of Ohio now owns 22,757 shares of the company’s stock worth $39,000 after buying an additional 14,457 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of PMV Pharmaceuticals by 71.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 42,802 shares of the company’s stock valued at $73,000 after buying an additional 17,858 shares in the last quarter. Aristides Capital LLC acquired a new position in PMV Pharmaceuticals during the 4th quarter worth approximately $97,000. Finally, Marquette Asset Management LLC purchased a new position in PMV Pharmaceuticals in the 1st quarter worth approximately $109,000. Institutional investors and hedge funds own 90.20% of the company’s stock.

PMV Pharmaceuticals Stock Performance

NASDAQ:PMVP opened at $1.50 on Wednesday. The stock has a market cap of $77.16 million, a price-to-earnings ratio of -1.13 and a beta of 1.52. PMV Pharmaceuticals, Inc. has a one year low of $1.18 and a one year high of $6.66. The business’s 50-day simple moving average is $1.54 and its 200 day simple moving average is $1.68.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.34) by $0.32. On average, equities research analysts predict that PMV Pharmaceuticals, Inc. will post -1.05 EPS for the current year.

Wall Street Analyst Weigh In

Separately, HC Wainwright reissued a “buy” rating and set a $5.00 target price on shares of PMV Pharmaceuticals in a research report on Tuesday, August 20th. Four analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $5.75.

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.