PMV Pharmaceuticals (NASDAQ:PMVP) Posts Earnings Results, Beats Expectations By $0.07 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) posted its quarterly earnings data on Tuesday. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.41) by $0.07, FiscalAI reports.

PMV Pharmaceuticals Trading Up 4.8%

Shares of NASDAQ:PMVP traded up $0.07 on Tuesday, hitting $1.46. The company had a trading volume of 240,412 shares, compared to its average volume of 526,770. PMV Pharmaceuticals has a 1-year low of $0.81 and a 1-year high of $1.88. The stock has a market cap of $77.70 million, a price-to-earnings ratio of -0.98 and a beta of 1.41. The stock has a 50 day moving average price of $1.44 and a 200 day moving average price of $1.31.

Analysts Set New Price Targets

A number of analysts have recently issued reports on PMVP shares. Weiss Ratings upgraded shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Wednesday, April 29th. Evercore raised shares of PMV Pharmaceuticals to a “strong-buy” rating in a report on Monday, April 13th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, PMV Pharmaceuticals currently has an average rating of “Moderate Buy”.

Institutional Investors Weigh In On PMV Pharmaceuticals

A number of institutional investors have recently modified their holdings of the business. XTX Topco Ltd boosted its position in shares of PMV Pharmaceuticals by 144.3% in the fourth quarter. XTX Topco Ltd now owns 104,485 shares of the company’s stock valued at $131,000 after acquiring an additional 61,723 shares during the period. Tang Capital Management LLC boosted its position in shares of PMV Pharmaceuticals by 3.2% in the fourth quarter. Tang Capital Management LLC now owns 4,940,000 shares of the company’s stock valued at $6,175,000 after acquiring an additional 154,799 shares during the period. Bridgeway Capital Management LLC lifted its position in PMV Pharmaceuticals by 33.7% during the fourth quarter. Bridgeway Capital Management LLC now owns 428,853 shares of the company’s stock worth $536,000 after purchasing an additional 108,200 shares during the period. Public Employees Retirement System of Ohio lifted its position in PMV Pharmaceuticals by 349.7% during the fourth 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 period. Finally, Squarepoint Ops LLC lifted its position in PMV Pharmaceuticals by 101.8% during the fourth 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 period. 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. 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.