PMV Pharmaceuticals (NASDAQ:PMVP) Posts Quarterly Earnings Results, Hits Expectations

PMV Pharmaceuticals (NASDAQ:PMVP) announced its quarterly earnings results on Wednesday. The company reported ($0.40) earnings per share for the quarter, meeting the consensus estimate of ($0.40), Zacks reports.

PMV Pharmaceuticals Price Performance

PMV Pharmaceuticals stock opened at $1.36 on Friday. PMV Pharmaceuticals has a 12 month low of $0.81 and a 12 month high of $1.84. The stock has a market capitalization of $72.07 million, a PE ratio of -0.85 and a beta of 1.54. The business has a 50 day simple moving average of $1.39 and a 200-day simple moving average of $1.26.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of PMV Pharmaceuticals in a research note on Wednesday, November 5th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $5.00.

Insider Buying and Selling

In other PMV Pharmaceuticals news, major shareholder Orbimed Advisors Llc sold 1,000,000 shares of the company’s stock in a transaction on Thursday, October 23rd. The shares were sold at an average price of $1.52, for a total transaction of $1,520,000.00. Following the completion of the transaction, the insider directly owned 4,975,291 shares in the company, valued at approximately $7,562,442.32. This represents a 16.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 7.57% of the company’s stock.

Institutional Inflows and Outflows

An institutional investor recently raised its position in PMV Pharmaceuticals stock. Vanguard Group Inc. raised its position in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 0.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,163,027 shares of the company’s stock after acquiring an additional 9,427 shares during the quarter. Vanguard Group Inc. owned approximately 4.08% of PMV Pharmaceuticals worth $3,028,000 as of its most recent SEC filing. Hedge funds and other 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.