PMV Pharmaceuticals (NASDAQ:PMVP) Upgraded to Hold at Wall Street Zen

PMV Pharmaceuticals (NASDAQ:PMVP) was upgraded by analysts at Wall Street Zen from a “sell” rating to a “hold” rating in a report released on Saturday, Wall Street Zen reports.

Several other research firms have also weighed in on PMVP. LADENBURG THALM/SH SH initiated coverage on shares of PMV Pharmaceuticals in a report on Wednesday, July 8th. They set a “buy” rating and a $3.00 target price on the stock. HC Wainwright reiterated a “buy” rating and issued a $5.00 price target on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. Finally, Weiss Ratings upgraded shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. 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 stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $4.33.

PMV Pharmaceuticals Price Performance

Shares of NASDAQ PMVP opened at $1.31 on Friday. PMV Pharmaceuticals has a 12 month low of $1.02 and a 12 month high of $1.91. The company has a 50-day simple moving average of $1.38 and a 200-day simple moving average of $1.30. The company has a market cap of $70.03 million, a PE ratio of -0.92 and a beta of 1.36.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its quarterly earnings results on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating the consensus estimate of ($0.39) by $0.05. On average, analysts anticipate that PMV Pharmaceuticals will post -1.26 EPS for the current year.

Institutional Investors Weigh In On PMV Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of the stock. BML Capital Management LLC grew its holdings in shares of PMV Pharmaceuticals by 0.5% in the 1st quarter. BML Capital Management LLC now owns 5,320,000 shares of the company’s stock worth $6,597,000 after acquiring an additional 28,000 shares during the last quarter. Eversept Partners LP purchased a new stake in shares of PMV Pharmaceuticals during the first quarter valued at $2,912,000. BlackRock Inc. purchased a new stake in shares of PMV Pharmaceuticals during the second quarter valued at $1,233,000. Stonepine Capital Management LLC purchased a new stake in shares of PMV Pharmaceuticals during the second quarter valued at $718,355. Finally, Walleye Capital LLC acquired a new position in shares of PMV Pharmaceuticals in the 2nd quarter valued at $450,000. Institutional investors and hedge funds 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.