919,818 Shares in PMV Pharmaceuticals, Inc. $PMVP Acquired by BlackRock Inc.

Key Points

• BlackRock acquired 919,818 shares of PMV Pharmaceuticals in the second quarter, valued at approximately $1.23 million and representing about 1.72% of the company. Institutional investors collectively own 90.20% of PMVP.
• Analyst sentiment remains generally positive, with a consensus rating of “Moderate Buy” and an average price target of $4.33, despite Oppenheimer lowering its target to $5.00.
• PMVP opened at $1.29, near its 50-day and 200-day moving averages, while its latest quarterly loss of $0.34 per share beat estimates of $0.39 per share.

BlackRock Inc. acquired a new stake in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 919,818 shares of the company's stock, valued at approximately $1,233,000. BlackRock Inc. owned about 1.72% of PMV Pharmaceuticals as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the company. Shay Capital LLC purchased a new stake in shares of PMV Pharmaceuticals in the 2nd quarter valued at approximately $26,000. Squarepoint Ops LLC grew its stake in PMV Pharmaceuticals by 101.8% in the fourth quarter. Squarepoint Ops LLC now owns 26,502 shares of the company's stock valued at $33,000 after purchasing an additional 13,367 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in PMV Pharmaceuticals by 349.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 27,434 shares of the company's stock worth $34,000 after buying an additional 21,334 shares during the last quarter. Algert Global LLC bought a new position in shares of PMV Pharmaceuticals during the 3rd quarter valued at $87,000. Finally, Seven Fleet Capital Management LP bought a new position in PMV Pharmaceuticals during the fourth quarter valued at about $79,000. 90.20% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PMVP. Oppenheimer dropped their price target on shares of PMV Pharmaceuticals from $6.00 to $5.00 and set an "outperform" rating on the stock in a research report on Wednesday, May 13th. LADENBURG THALM/SH SH started coverage on shares of PMV Pharmaceuticals in a research note on Wednesday, July 8th. They set a "buy" rating and a $3.00 price objective on the stock. Weiss Ratings raised PMV Pharmaceuticals from a "sell (e+)" rating to a "sell (d-)" rating in a report on Wednesday, August 12th. Finally, HC Wainwright reaffirmed a "buy" rating and issued a $5.00 price target on shares of PMV Pharmaceuticals in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $4.33.

PMV Pharmaceuticals Price Performance

NASDAQ:PMVP opened at $1.29 on Monday. The stock's 50 day moving average price is $1.25 and its two-hundred day moving average price is $1.29. PMV Pharmaceuticals, Inc. has a twelve month low of $1.02 and a twelve month high of $1.88. The firm has a market capitalization of $68.96 million, a price-to-earnings ratio of -0.91 and a beta of 1.37.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last announced its quarterly earnings data on Friday, August 14th. The company reported ($0.34) EPS for the quarter, beating analysts' consensus estimates of ($0.39) by $0.05. As a group, analysts anticipate that PMV Pharmaceuticals, Inc. will post -1.38 earnings per share for the current year.

PMV Pharmaceuticals Company Profile

PMV Pharmaceuticals, Inc, a precision oncology company, engages in the discovery and development of small molecule and tumor-agnostic therapies for p53 mutations in cancer. It's lead product candidate is PC14586, a small molecule that corrects mutant p53 protein containing the Y220C mutation and restores wild-type p53 function. The company was formerly known as PJ Pharmaceuticals, Inc and changed its name to PMV Pharmaceuticals, Inc in July 2013. PMV Pharmaceuticals, Inc was incorporated in 2013 and is based in Princeton, New Jersey.

Want to see what other hedge funds are holding PMVP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.