Orbimed Advisors Llc Sells 1,000,000 Shares of PMV Pharmaceuticals (NASDAQ:PMVP) Stock

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) major shareholder Orbimed Advisors Llc sold 1,000,000 shares of PMV Pharmaceuticals stock in a transaction dated Thursday, October 23rd. The stock was sold at an average price of $1.52, for a total value of $1,520,000.00. Following the completion of the sale, the insider directly owned 4,975,291 shares of the company’s stock, valued at approximately $7,562,442.32. This trade represents a 16.74% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Orbimed Advisors Llc also recently made the following trade(s):

• On Wednesday, September 10th, Orbimed Advisors Llc sold 500,000 shares of PMV Pharmaceuticals stock. The stock was sold at an average price of $1.80, for a total value of $900,000.00.

PMV Pharmaceuticals Stock Down 7.0%

Shares of NASDAQ PMVP opened at $1.47 on Wednesday. PMV Pharmaceuticals, Inc. has a 52 week low of $0.81 and a 52 week high of $1.84. The business has a 50-day simple moving average of $1.41 and a two-hundred day simple moving average of $1.23. The company has a market cap of $77.90 million, a P/E ratio of -0.94 and a beta of 1.51.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its earnings results on Thursday, August 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). Equities research analysts anticipate that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of PMV Pharmaceuticals in a research note on Tuesday, October 14th. Two research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, PMV Pharmaceuticals presently has a consensus rating of “Hold” and a consensus target price of $5.50.

Institutional Trading of PMV Pharmaceuticals

Large investors have recently modified their holdings of the business. Shay Capital LLC bought a new stake in shares of PMV Pharmaceuticals during the 2nd quarter valued at about $26,000. Assenagon Asset Management S.A. lifted its position in PMV Pharmaceuticals by 128.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 263,059 shares of the company’s stock worth $279,000 after buying an additional 148,021 shares during the last quarter. Peapod Lane Capital LLC lifted its position in PMV Pharmaceuticals by 9.8% in the 1st quarter. Peapod Lane Capital LLC now owns 489,370 shares of the company’s stock worth $533,000 after buying an additional 43,626 shares during the last quarter. Aldebaran Capital LLC lifted its position in PMV Pharmaceuticals by 4.3% in the 1st quarter. Aldebaran Capital LLC now owns 523,553 shares of the company’s stock worth $571,000 after buying an additional 21,363 shares during the last quarter. Finally, Stonepine Capital Management LLC lifted its position in PMV Pharmaceuticals by 17.6% in the 1st quarter. Stonepine Capital Management LLC now owns 630,183 shares of the company’s stock worth $687,000 after buying an additional 94,378 shares during 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.