PMV Pharmaceuticals (NASDAQ:PMVP) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) shares crossed above its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $1.30 and traded as high as $1.39. PMV Pharmaceuticals shares last traded at $1.38, with a volume of 348,869 shares traded.

Wall Street Analyst Weigh In

PMVP has been the subject of a number of research reports. HC Wainwright restated a “buy” rating and issued a $5.00 target price on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. LADENBURG THALM/SH SH started coverage on PMV Pharmaceuticals in a research report on Wednesday, July 8th. They set a “buy” rating and a $3.00 price target on the stock. Finally, Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a report on Thursday, September 24th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $4.33.

PMV Pharmaceuticals Trading Down 3.0%

The company’s 50-day moving average is $1.38 and its two-hundred day moving average is $1.30. The stock has a market capitalization of $70.03 million, a P/E ratio of -0.92 and a beta of 1.36.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.39) by $0.05. Sell-side analysts expect that PMV Pharmaceuticals, Inc. will post -1.26 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Cooper Haims Advisors LLC acquired a new position in shares of PMV Pharmaceuticals during the 2nd quarter valued at $52,000. Susquehanna International Group LLP acquired a new stake in shares of PMV Pharmaceuticals in the second quarter valued at $50,000. Stonepine Capital Management LLC acquired a new stake in shares of PMV Pharmaceuticals in the second quarter valued at $718,355. Bank of America Corp DE bought a new position in PMV Pharmaceuticals during the second quarter valued at about $322,000. Finally, ADAR1 Capital Management LLC bought a new position in PMV Pharmaceuticals during the second quarter valued at about $269,000. Institutional investors own 90.20% of the company’s stock.

About PMV Pharmaceuticals

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.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals is advancing rezatapopt through clinical development in patients with advanced solid tumors containing the p53 Y220C mutation.