PMV Pharmaceuticals (NASDAQ:PMVP) Stock Moved Down to "Sell" by Wall Street Zen

Key Points

• Wall Street Zen downgraded PMV Pharmaceuticals from “hold” to “sell.” Despite the move, analysts overall maintain a “Moderate Buy” consensus rating with an average price target of $4.33.
• PMVP opened at $1.26, within its 52-week range of $1.02 to $1.91, and has a market capitalization of about $67.4 million.
• The company reported a quarterly loss of $0.34 per share, narrower than analysts’ estimated loss of $0.39 per share. PMV is a clinical-stage oncology company developing rezatapopt, an investigational therapy targeting a p53 mutation.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "hold" rating to a "sell" rating in a research report issued on Sunday, Wall Street Zen reports.

A number of other equities analysts have also commented on PMVP. Weiss Ratings raised shares of PMV Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Thursday, September 24th. HC Wainwright reiterated a "buy" rating and issued a $5.00 price objective on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $4.33.

PMV Pharmaceuticals Price Performance

PMVP opened at $1.26 on Friday. The stock has a market capitalization of $67.36 million, a P/E ratio of -0.89 and a beta of 1.52. The company's 50 day simple moving average is $1.39 and its 200-day simple moving average is $1.30. PMV Pharmaceuticals has a one year low of $1.02 and a one year high of $1.91.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last posted its quarterly earnings data on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, topping the consensus estimate of ($0.39) by $0.05. As a group, analysts anticipate that PMV Pharmaceuticals will post -1.20 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of PMVP. BML Capital Management LLC lifted its position in PMV Pharmaceuticals by 37.5% during the third quarter. BML Capital Management LLC now owns 7,330,000 shares of the company's stock worth $12,241,000 after purchasing an additional 2,000,000 shares during the period. Cooper Haims Advisors LLC bought a new position in PMV Pharmaceuticals in the 2nd quarter valued at about $52,000. Susquehanna International Group LLP bought a new position in PMV Pharmaceuticals in the 2nd quarter valued at about $50,000. Stonepine Capital Management LLC acquired a new position in shares of PMV Pharmaceuticals in the 2nd quarter valued at approximately $718,355. Finally, Bank of America Corp DE acquired a new position in shares of PMV Pharmaceuticals in the 2nd quarter valued at approximately $322,000. 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.

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