PMV Pharmaceuticals (NASDAQ:PMVP) Earns “Buy” Rating from HC Wainwright

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

PMV Pharmaceuticals Stock Performance

Shares of NASDAQ:PMVP opened at $1.26 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 capitalization of $65.44 million, a PE ratio of -1.26 and a beta of 1.45. The company has a 50 day moving average price of $1.37 and a two-hundred day moving average price of $1.49.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued 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, sell-side analysts forecast that PMV Pharmaceuticals will post -1.06 earnings per share for the current year.

Institutional Investors Weigh In On PMV Pharmaceuticals

Several large investors have recently made changes to their positions in the stock. Velan Capital Investment Management LP bought a new stake in shares of PMV Pharmaceuticals during the fourth quarter worth $53,000. Squarepoint Ops LLC grew 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 purchasing an additional 29,722 shares in the last quarter. Two Sigma Investments LP grew 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 purchasing an additional 23,931 shares in the last quarter. Stonepine Capital Management LLC bought a new position in PMV Pharmaceuticals in the fourth quarter valued at $809,000. Finally, Bridgeway Capital Management LLC grew its position in PMV Pharmaceuticals by 44.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 202,100 shares of the company’s stock valued at $305,000 after purchasing an additional 62,200 shares in the last quarter. Institutional investors own 90.20% of the company’s stock.

PMV Pharmaceuticals Company 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.