PMV Pharmaceuticals (NASDAQ:PMVP) Releases Quarterly Earnings Results, Misses Expectations By $0.02 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) announced its quarterly earnings results on Thursday. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02), reports.

PMV Pharmaceuticals Stock Performance

Shares of PMV Pharmaceuticals stock opened at $1.74 on Friday. The company has a market capitalization of $89.64 million, a PE ratio of -1.79 and a beta of 1.49. The company has a 50-day simple moving average of $1.56 and a two-hundred day simple moving average of $1.66. PMV Pharmaceuticals has a one year low of $1.40 and a one year high of $3.47.

Institutional Trading of PMV Pharmaceuticals

Institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in PMV Pharmaceuticals by 1.9% in the first quarter. Vanguard Group Inc. now owns 2,452,111 shares of the company’s stock valued at $4,169,000 after acquiring an additional 46,804 shares in the last quarter. Acadian Asset Management LLC lifted its holdings in shares of PMV Pharmaceuticals by 170.7% during the 1st quarter. Acadian Asset Management LLC now owns 2,080,194 shares of the company’s stock valued at $3,533,000 after purchasing an additional 1,311,745 shares during the last quarter. BML Capital Management LLC boosted its position in shares of PMV Pharmaceuticals by 29.0% in the 3rd quarter. BML Capital Management LLC now owns 1,688,772 shares of the company’s stock worth $2,516,000 after purchasing an additional 379,375 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its stake in PMV Pharmaceuticals by 92.4% during the 1st quarter. Jacobs Levy Equity Management Inc. now owns 826,704 shares of the company’s stock worth $1,405,000 after buying an additional 397,062 shares during the last quarter. Finally, Opaleye Management Inc. acquired a new position in PMV Pharmaceuticals during the 1st quarter valued at about $802,000. 90.20% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. HC Wainwright reissued a “buy” rating and set a $5.00 price target on shares of PMV Pharmaceuticals in a research report on Tuesday, August 20th. Oppenheimer raised shares of PMV Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price objective for the company in a research note on Friday. Five research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, PMV Pharmaceuticals currently has a consensus rating of “Buy” and a consensus price target of $5.80.

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.