Peapod Lane Capital LLC Cuts Holdings in PMV Pharmaceuticals, Inc. $PMVP

Peapod Lane Capital LLC lessened its stake in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 7.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 452,682 shares of the company’s stock after selling 36,688 shares during the quarter. Peapod Lane Capital LLC’s holdings in PMV Pharmaceuticals were worth $480,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Assenagon Asset Management S.A. grew its stake in PMV Pharmaceuticals by 128.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 263,059 shares of the company’s stock worth $279,000 after buying an additional 148,021 shares in the last quarter. Aldebaran Capital LLC raised its stake in shares of PMV Pharmaceuticals by 4.3% during the first quarter. Aldebaran Capital LLC now owns 523,553 shares of the company’s stock worth $571,000 after acquiring an additional 21,363 shares in the last quarter. Stonepine Capital Management LLC raised its stake in shares of PMV Pharmaceuticals by 17.6% during the first quarter. Stonepine Capital Management LLC now owns 630,183 shares of the company’s stock worth $687,000 after acquiring an additional 94,378 shares in the last quarter. Finally, BML Capital Management LLC raised its stake in shares of PMV Pharmaceuticals by 8.1% during the first quarter. BML Capital Management LLC now owns 3,747,612 shares of the company’s stock worth $4,085,000 after acquiring an additional 280,928 shares in the last quarter. Hedge funds and other institutional investors own 90.20% of the company’s stock.

PMV Pharmaceuticals Stock Performance

PMVP stock opened at $1.56 on Friday. The company has a market capitalization of $82.66 million, a PE ratio of -0.99 and a beta of 1.51. PMV Pharmaceuticals, Inc. has a one year low of $0.81 and a one year high of $1.84. The company’s 50 day moving average price is $1.41 and its two-hundred day moving average price is $1.22.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings results on Thursday, August 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). On average, research analysts predict that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current year.

Insider Activity

In other news, major shareholder Orbimed Advisors Llc sold 500,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $1.80, for a total value of $900,000.00. Following the transaction, the insider owned 5,975,291 shares in the company, valued at approximately $10,755,523.80. This trade represents a 7.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 7.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of PMV Pharmaceuticals in a research note on Tuesday, October 14th. Two analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $5.50.

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.