ArrowMark Colorado Holdings LLC Buys 842,509 Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

ArrowMark Colorado Holdings LLC lifted its stake in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 30.0% in the third quarter, HoldingsChannel.com reports. The fund owned 3,647,291 shares of the company’s stock after purchasing an additional 842,509 shares during the period. ArrowMark Colorado Holdings LLC owned 0.07% of PMV Pharmaceuticals worth $5,434,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in PMVP. PFM Health Sciences LP boosted its holdings in PMV Pharmaceuticals by 57.7% in the third quarter. PFM Health Sciences LP now owns 2,011,040 shares of the company’s stock worth $2,996,000 after purchasing an additional 735,578 shares during the last quarter. Sio Capital Management LLC lifted its holdings in PMV Pharmaceuticals by 18.7% in the third quarter. Sio Capital Management LLC now owns 3,214,239 shares of the company’s stock valued at $4,789,000 after acquiring an additional 505,831 shares during the period. BML Capital Management LLC boosted its position in PMV Pharmaceuticals by 29.0% in the third 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 during the last quarter. Assenagon Asset Management S.A. lifted its stake in shares of PMV Pharmaceuticals by 36.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 353,837 shares of the company’s stock worth $527,000 after purchasing an additional 93,809 shares during the period. Finally, Cubist Systematic Strategies LLC boosted its holdings in shares of PMV Pharmaceuticals by 570.8% in the second quarter. Cubist Systematic Strategies LLC now owns 69,867 shares of the company’s stock worth $113,000 after buying an additional 59,452 shares during the last quarter. 90.20% of the stock is owned by hedge funds and other institutional investors.

PMV Pharmaceuticals Price Performance

Shares of NASDAQ PMVP opened at $1.69 on Tuesday. PMV Pharmaceuticals, Inc. has a 1 year low of $1.40 and a 1 year high of $3.47. The firm has a fifty day moving average price of $1.59 and a 200-day moving average price of $1.62.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its quarterly earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). As a group, equities analysts expect that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current year.

Analyst Ratings Changes

A number of analysts have commented on the stock. Oppenheimer raised shares of PMV Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 target price for the company in a report on Friday, November 8th. HC Wainwright reaffirmed a “buy” rating and issued a $5.00 target price on shares of PMV Pharmaceuticals in a report on Tuesday, August 20th. Five equities 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.com, the stock presently has a consensus rating of “Buy” and an average 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.