PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Sees Large Growth in Short Interest

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) was the target of a large growth in short interest in April. As of April 15th, there was short interest totaling 2,314,712 shares, a growth of 48.3% from the March 31st total of 1,560,810 shares. Currently, 4.7% of the company’s stock are sold short. Based on an average trading volume of 467,066 shares, the days-to-cover ratio is currently 5.0 days.

Institutional Investors Weigh In On PMV Pharmaceuticals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Seven Fleet Capital Management LP purchased a new stake in PMV Pharmaceuticals during the 4th quarter worth $79,000. Shay Capital LLC bought a new stake in shares of PMV Pharmaceuticals in the 2nd quarter worth about $26,000. Squarepoint Ops LLC increased its position in shares of PMV Pharmaceuticals by 101.8% in the 4th quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock worth $33,000 after purchasing an additional 13,367 shares during the last quarter. Public Employees Retirement System of Ohio increased its position in shares of PMV Pharmaceuticals by 349.7% in the 4th quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company’s stock worth $34,000 after purchasing an additional 21,334 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of PMV Pharmaceuticals in the 3rd quarter worth about $87,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Evercore upgraded shares of PMV Pharmaceuticals to a “strong-buy” rating in a report on Monday, April 13th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

PMV Pharmaceuticals Price Performance

PMV Pharmaceuticals stock traded up $0.02 during midday trading on Thursday, hitting $1.41. 46,846 shares of the stock were exchanged, compared to its average volume of 551,522. PMV Pharmaceuticals has a 1 year low of $0.81 and a 1 year high of $1.88. The firm has a market cap of $74.93 million, a P/E ratio of -0.94 and a beta of 1.40. The company has a 50 day moving average price of $1.41 and a two-hundred day moving average price of $1.31.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its quarterly earnings results on Friday, March 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.06. As a group, analysts predict that PMV Pharmaceuticals will post -1.6 EPS for the current year.

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. The company was formerly known as PJ Pharmaceuticals, Inc and changed its name to PMV Pharmaceuticals, Inc in July 2013. PMV Pharmaceuticals, Inc was incorporated in 2013 and is based in Princeton, New Jersey.