PMV Pharmaceuticals’ (PMVP) “Buy” Rating Reaffirmed at HC Wainwright

PMV Pharmaceuticals (NASDAQ:PMVP)‘s stock had its “buy” rating reiterated by stock analysts at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $5.00 target price on the stock. HC Wainwright’s price objective would suggest a potential upside of 290.63% from the stock’s previous close.

PMV Pharmaceuticals Price Performance

Shares of NASDAQ:PMVP opened at $1.28 on Thursday. The business’s 50 day simple moving average is $1.37 and its 200 day simple moving average is $1.50. PMV Pharmaceuticals has a 1 year low of $1.20 and a 1 year high of $2.26. The company has a market capitalization of $66.48 million, a P/E ratio of -1.28 and a beta of 1.45.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its earnings results on Monday, March 3rd. The company reported ($0.45) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.37) by ($0.08). On average, sell-side analysts anticipate that PMV Pharmaceuticals will post -1.06 EPS for the current fiscal year.

Hedge Funds Weigh In On PMV Pharmaceuticals

Hedge funds have recently bought and sold shares of the company. Sio Capital Management LLC boosted its position in shares of PMV Pharmaceuticals by 18.7% during the 3rd quarter. Sio Capital Management LLC now owns 3,214,239 shares of the company’s stock worth $4,789,000 after acquiring an additional 505,831 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its stake in PMV Pharmaceuticals by 30.0% during the third quarter. ArrowMark Colorado Holdings LLC now owns 3,647,291 shares of the company’s stock worth $5,434,000 after purchasing an additional 842,509 shares during the last quarter. Peapod Lane Capital LLC acquired a new stake in shares of PMV Pharmaceuticals in the 4th quarter valued at $673,000. M&T Bank Corp boosted its holdings in shares of PMV Pharmaceuticals by 54.6% in the 3rd quarter. M&T Bank Corp now owns 399,548 shares of the company’s stock valued at $596,000 after purchasing an additional 141,064 shares in the last quarter. Finally, BML Capital Management LLC increased its stake in shares of PMV Pharmaceuticals by 105.3% in the 4th quarter. BML Capital Management LLC now owns 3,466,684 shares of the company’s stock valued at $5,235,000 after purchasing an additional 1,777,912 shares during the last quarter. 90.20% of the stock is owned by institutional investors.

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.