PMV Pharmaceuticals (NASDAQ:PMVP) Shares Cross Below 200-Day Moving Average – Should You Sell?

Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) crossed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $1.30 and traded as low as $1.20. PMV Pharmaceuticals shares last traded at $1.2750, with a volume of 475,606 shares traded.

Analyst Ratings Changes

A number of brokerages have weighed in on PMVP. HC Wainwright reiterated a “buy” rating and set a $5.00 price target on shares of PMV Pharmaceuticals in a research report on Friday, September 4th. Weiss Ratings upgraded shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. Finally, Wall Street Zen upgraded shares of PMV Pharmaceuticals from a “sell” rating to a “hold” rating in a report on Saturday, October 31st. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $4.33.

PMV Pharmaceuticals Stock Down 1.2%

The firm has a 50-day moving average price of $1.39 and a 200 day moving average price of $1.30. The firm has a market capitalization of $67.36 million, a PE ratio of -0.89 and a beta of 1.52.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.39) by $0.05. Equities research analysts expect that PMV Pharmaceuticals, Inc. will post -1.20 earnings per share for the current year.

Hedge Funds Weigh In On PMV Pharmaceuticals

Several institutional investors have recently bought and sold shares of the company. BML Capital Management LLC boosted its stake in shares of PMV Pharmaceuticals by 37.5% in the third quarter. BML Capital Management LLC now owns 7,330,000 shares of the company’s stock valued at $12,241,000 after purchasing an additional 2,000,000 shares during the period. Cooper Haims Advisors LLC acquired a new stake in PMV Pharmaceuticals during the 2nd quarter worth approximately $52,000. Susquehanna International Group LLP acquired a new stake in PMV Pharmaceuticals during the 2nd quarter worth approximately $50,000. Stonepine Capital Management LLC acquired a new stake in PMV Pharmaceuticals during the 2nd quarter worth approximately $718,355. Finally, Bank of America Corp DE acquired a new stake in PMV Pharmaceuticals during the 2nd quarter worth approximately $322,000. 90.20% of the stock is owned by institutional investors and hedge funds.

PMV Pharmaceuticals Company Profile

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-causing mutations in the tumor suppressor protein p53. The company aims to discover and develop small-molecule medicines designed to restore the normal tumor-suppressing function of mutant p53 proteins.

PMV’s lead product candidate is rezatapopt, also known as PC14586, an investigational oral therapy designed to selectively target the p53 Y220C mutation. This mutation occurs in a range of solid tumors, and rezatapopt is being evaluated for its potential to reactivate the altered p53 protein and inhibit cancer-cell growth.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals is advancing rezatapopt through clinical development in patients with advanced solid tumors containing the p53 Y220C mutation.