PMV Pharmaceuticals’ (PMVP) “Buy” Rating Reiterated at HC Wainwright

HC Wainwright reissued their buy rating on shares of PMV Pharmaceuticals (NASDAQ:PMVP) in a report released on Thursday morning,Benzinga reports. The firm currently has a $5.00 target price on the stock.

PMV Pharmaceuticals Stock Up 0.8 %

PMVP opened at $1.27 on Thursday. PMV Pharmaceuticals has a 52-week low of $1.20 and a 52-week high of $2.26. The company has a market cap of $65.96 million, a P/E ratio of -1.27 and a beta of 1.45. The firm’s 50-day moving average price is $1.36 and its 200-day moving average price is $1.49.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.08). On average, research analysts anticipate that PMV Pharmaceuticals will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On PMV Pharmaceuticals

A number of large investors have recently bought and sold shares of the company. Velan Capital Investment Management LP purchased a new stake in PMV Pharmaceuticals in the fourth quarter valued at approximately $53,000. Squarepoint Ops LLC boosted its position in PMV Pharmaceuticals by 68.7% in the fourth quarter. Squarepoint Ops LLC now owns 73,015 shares of the company’s stock valued at $110,000 after buying an additional 29,722 shares during the last quarter. Two Sigma Investments LP boosted its position in PMV Pharmaceuticals by 5.0% in the fourth quarter. Two Sigma Investments LP now owns 506,986 shares of the company’s stock valued at $766,000 after buying an additional 23,931 shares during the last quarter. Stonepine Capital Management LLC purchased a new stake in PMV Pharmaceuticals in the 4th quarter worth approximately $809,000. Finally, Bridgeway Capital Management LLC boosted its position in PMV Pharmaceuticals by 44.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 202,100 shares of the company’s stock worth $305,000 after purchasing an additional 62,200 shares in the last quarter. Hedge funds and other institutional investors own 90.20% of the company’s stock.

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.