Short Interest in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Decreases By 18.0%

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) was the target of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 1,232,783 shares, a decline of 18.0% from the February 12th total of 1,503,564 shares. Based on an average daily trading volume, of 882,107 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.5% of the shares of the stock are sold short. Currently, 2.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 882,107 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On PMV Pharmaceuticals

Several large investors have recently made changes to their positions in the company. Shay Capital LLC bought a new position in PMV Pharmaceuticals in the second quarter valued at about $26,000. Squarepoint Ops LLC raised its holdings in 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 during the last quarter. Public Employees Retirement System of Ohio lifted its position in 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 valued at $34,000 after purchasing an additional 21,334 shares during the period. Seven Fleet Capital Management LP acquired a new position in PMV Pharmaceuticals during the 4th quarter valued at about $79,000. Finally, Algert Global LLC bought a new position in shares of PMV Pharmaceuticals in the 3rd quarter valued at about $87,000. Institutional investors and hedge funds own 90.20% of the company’s stock.

PMV Pharmaceuticals Stock Performance

PMVP stock remained flat at $1.56 during trading on Monday. 152,985 shares of the company traded hands, compared to its average volume of 642,310. The company has a 50 day simple moving average of $1.23 and a 200-day simple moving average of $1.31. PMV Pharmaceuticals has a 1 year low of $0.81 and a 1 year high of $1.88. The company has a market cap of $83.19 million, a PE ratio of -1.05 and a beta of 1.26.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.40) by $0.06. Equities research analysts predict that PMV Pharmaceuticals will post -1.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of PMV Pharmaceuticals in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $5.00.

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.