PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Sees Significant Increase in Short Interest

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) was the target of a large growth in short interest in March. As of March 13th, there was short interest totaling 1,485,129 shares, a growth of 20.5% from the February 26th total of 1,232,783 shares. Approximately 3.0% of the company’s shares are short sold. Based on an average trading volume of 1,544,359 shares, the short-interest ratio is presently 1.0 days.

PMV Pharmaceuticals Trading Up 1.6%

Shares of PMVP traded up $0.02 during midday trading on Tuesday, reaching $1.24. 245,548 shares of the stock were exchanged, compared to its average volume of 601,519. The company has a market capitalization of $66.13 million, a P/E ratio of -0.83 and a beta of 1.26. PMV Pharmaceuticals has a 52 week low of $0.81 and a 52 week high of $1.88. The company’s 50 day moving average is $1.29 and its two-hundred day moving average is $1.31.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its quarterly earnings data on Friday, March 6th. The company reported ($0.34) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.06. On average, sell-side analysts expect that PMV Pharmaceuticals will post -1.06 EPS for the current year.

Institutional Investors Weigh In On PMV Pharmaceuticals

Several hedge funds have recently modified their holdings of PMVP. Shay Capital LLC bought a new position in shares of PMV Pharmaceuticals during the second quarter valued at approximately $26,000. Squarepoint Ops LLC raised its stake in PMV Pharmaceuticals by 101.8% in the fourth quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock worth $33,000 after buying an additional 13,367 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in PMV Pharmaceuticals by 349.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company’s stock worth $34,000 after buying an additional 21,334 shares in the last quarter. Algert Global LLC purchased a new stake in PMV Pharmaceuticals during the third quarter worth $87,000. Finally, Seven Fleet Capital Management LP purchased a new stake in PMV Pharmaceuticals during the fourth quarter worth $79,000. Hedge funds and other institutional investors own 90.20% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of PMV Pharmaceuticals in a report on Monday, December 29th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

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. 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.