PMV Pharmaceuticals (NASDAQ:PMVP) Stock Lifted to Hold by Wall Street Zen

Key Points

• Wall Street Zen upgraded PMV Pharmaceuticals from “Sell” to “Hold.” Despite mixed analyst views, the stock carries a consensus “Moderate Buy” rating with an average price target of $4.33.
• PMVP shares opened at $1.31, down 3%, with a market capitalization of approximately $70 million. The company reported a quarterly loss of $0.34 per share, beating estimates for a $0.39 loss.
• Institutional investors and hedge funds own 90.2% of the stock. PMV is a clinical-stage oncology company developing rezatapopt, an investigational therapy targeting the p53 Y220C mutation in solid tumors.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) was upgraded by equities researchers at Wall Street Zen from a "sell" rating to a "hold" rating in a research note issued on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently weighed in on PMVP. LADENBURG THALM/SH SH began coverage on PMV Pharmaceuticals in a report on Wednesday, July 8th. They issued a "buy" rating and a $3.00 target price for the company. Weiss Ratings upgraded PMV Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Thursday, September 24th. Finally, HC Wainwright restated a "buy" rating and issued a $5.00 price objective on shares of PMV Pharmaceuticals in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $4.33.

PMV Pharmaceuticals Stock Down 3.0%

Shares of NASDAQ:PMVP opened at $1.31 on Friday. The firm has a fifty day simple moving average of $1.38 and a two-hundred day simple moving average of $1.30. PMV Pharmaceuticals has a 52 week low of $1.02 and a 52 week high of $1.91. 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 - Get Free Report) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.34) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.39) by $0.05. On average, analysts expect that PMV Pharmaceuticals will post -1.26 earnings per share for the current year.

Hedge Funds Weigh In On PMV Pharmaceuticals

Hedge funds have recently made changes to their positions in the company. Cooper Haims Advisors LLC purchased a new position in shares of PMV Pharmaceuticals in the 2nd quarter valued at about $52,000. Susquehanna International Group LLP acquired a new stake in PMV Pharmaceuticals during the 2nd quarter worth $50,000. Stonepine Capital Management LLC purchased a new stake in shares of PMV Pharmaceuticals in the 2nd quarter valued at about $718,355. Bank of America Corp DE purchased a new stake in PMV Pharmaceuticals in the second quarter valued at approximately $322,000. Finally, ADAR1 Capital Management LLC acquired a new stake in PMV Pharmaceuticals during the 2nd quarter worth $269,000. 90.20% of the stock is owned by institutional investors and hedge funds.

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.

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