Point72 Asia Singapore Pte. Ltd. Takes $101,000 Position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Point72 Asia Singapore Pte. Ltd. purchased a new position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 62,634 shares of the company’s stock, valued at approximately $101,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PMVP. Cubist Systematic Strategies LLC increased its stake in shares of PMV Pharmaceuticals by 570.8% in the second quarter. Cubist Systematic Strategies LLC now owns 69,867 shares of the company’s stock worth $113,000 after buying an additional 59,452 shares during the last quarter. Evoke Wealth LLC bought a new stake in shares of PMV Pharmaceuticals in the 2nd quarter worth about $102,000. Assenagon Asset Management S.A. raised its stake in shares of PMV Pharmaceuticals by 267.2% in the 2nd quarter. Assenagon Asset Management S.A. now owns 260,028 shares of the company’s stock valued at $421,000 after purchasing an additional 189,214 shares in the last quarter. Opaleye Management Inc. bought a new position in shares of PMV Pharmaceuticals during the first quarter worth about $802,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of PMV Pharmaceuticals by 92.4% during the first quarter. Jacobs Levy Equity Management Inc. now owns 826,704 shares of the company’s stock worth $1,405,000 after purchasing an additional 397,062 shares during the last quarter. Hedge funds and other institutional investors own 90.20% of the company’s stock.

PMV Pharmaceuticals Price Performance

PMVP stock opened at $1.53 on Friday. The firm has a market cap of $78.71 million, a price-to-earnings ratio of -1.15 and a beta of 1.52. PMV Pharmaceuticals, Inc. has a 1-year low of $1.18 and a 1-year high of $6.66. The firm has a fifty day moving average price of $1.53 and a two-hundred day moving average price of $1.67.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings results on Thursday, August 8th. The company reported ($0.02) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.32. As a group, analysts expect that PMV Pharmaceuticals, Inc. will post -1.05 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, HC Wainwright restated a “buy” rating and set a $5.00 price objective on shares of PMV Pharmaceuticals in a research note on Tuesday, August 20th. Four investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus price target of $5.75.

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.