PMV Pharmaceuticals (NASDAQ:PMVP) Releases Quarterly Earnings Results, Beats Expectations By $0.06 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) announced its quarterly earnings data on Friday. The company reported ($0.34) EPS for the quarter, beating analysts’ consensus estimates of ($0.40) by $0.06, FiscalAI reports.

PMV Pharmaceuticals Stock Up 7.2%

PMV Pharmaceuticals stock opened at $1.64 on Friday. The company has a 50 day moving average of $1.20 and a 200-day moving average of $1.30. PMV Pharmaceuticals has a twelve month low of $0.81 and a twelve month high of $1.88. The stock has a market capitalization of $87.26 million, a PE ratio of -1.10 and a beta of 1.27.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of PMV Pharmaceuticals in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, PMV Pharmaceuticals currently has an average rating of “Hold” and an average price target of $5.00.

Hedge Funds Weigh In On PMV Pharmaceuticals

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PMVP. Shay Capital LLC acquired a new position in PMV Pharmaceuticals during the second quarter valued at approximately $26,000. Squarepoint Ops LLC raised its stake in shares of PMV Pharmaceuticals by 101.8% during the 4th quarter. Squarepoint Ops LLC now owns 26,502 shares of the company’s stock worth $33,000 after purchasing an additional 13,367 shares in the last quarter. Public Employees Retirement System of Ohio raised its stake in shares of PMV Pharmaceuticals by 349.7% during the 4th 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 in the last quarter. Algert Global LLC bought a new position in shares of PMV Pharmaceuticals in the third quarter valued at $87,000. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of PMV Pharmaceuticals in the third quarter valued at $96,000. 90.20% of the stock is owned by institutional investors and hedge funds.

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.