PMV Pharmaceuticals (NASDAQ:PMVP) Cut to “Sell” at Wall Street Zen

Wall Street Zen cut shares of PMV Pharmaceuticals (NASDAQ:PMVP) from a hold rating to a sell rating in a research report released on Sunday morning,Wall Street Zen reports.

A number of other brokerages have also commented on PMVP. Weiss Ratings upgraded shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $4.33.

PMV Pharmaceuticals Trading Down 2.4%

NASDAQ PMVP opened at $1.22 on Friday. The stock has a market cap of $65.22 million, a P/E ratio of -0.86 and a beta of 1.52. The company’s fifty day simple moving average is $1.39 and its 200-day simple moving average is $1.30. PMV Pharmaceuticals has a 52 week low of $1.02 and a 52 week high of $1.91.

PMV Pharmaceuticals (NASDAQ:PMVP) last released its quarterly earnings results on Tuesday, November 10th. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18). On average, research analysts expect that PMV Pharmaceuticals will post -1.20 EPS for the current fiscal year.

Hedge Funds Weigh In On PMV Pharmaceuticals

Several institutional investors and hedge funds have recently made changes to their positions in the business. BML Capital Management LLC increased its stake in shares of PMV Pharmaceuticals by 37.5% in the third quarter. BML Capital Management LLC now owns 7,330,000 shares of the company’s stock worth $12,241,000 after buying an additional 2,000,000 shares during the last quarter. Cooper Haims Advisors LLC bought a new position in PMV Pharmaceuticals during the 2nd quarter valued at $52,000. Susquehanna International Group LLP bought a new position in PMV Pharmaceuticals during the 2nd quarter valued at $50,000. Stonepine Capital Management LLC acquired a new position in PMV Pharmaceuticals during the 2nd quarter worth $718,355. Finally, Bank of America Corp DE acquired a new position in PMV Pharmaceuticals during the 2nd quarter worth $322,000. 90.20% of the stock is currently owned by hedge funds and other institutional investors.

PMV Pharmaceuticals Company Profile

PMV Pharmaceuticals, Inc. is a clinical-stage precision oncology company focused on developing therapies that target cancer-causing mutations in the tumor suppressor protein p53. The company aims to discover and develop small-molecule medicines designed to restore the normal tumor-suppressing function of mutant p53 proteins. PMV’s lead product candidate is rezatapopt, also known as PC14586, an investigational oral therapy designed to selectively target the p53 Y220C mutation. This mutation occurs in a range of solid tumors, and rezatapopt is being evaluated for its potential to reactivate the altered p53 protein and inhibit cancer-cell growth.