BML Capital Management LLC Boosts Stock Position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Key Points

• BML Capital Management LLC increased its stake in PMV Pharmaceuticals by 8.1% in Q1, owning approximately 3.1% of the company after buying an additional 280,928 shares.
• CEO David Henry Mack sold 58,411 shares on July 1st, decreasing his ownership by 9.82%, while insiders have collectively sold 114,627 shares worth $121,505 in the last quarter.
• PMV Pharmaceuticals reported a loss of ($0.34) earnings per share for Q1, surpassing analyst expectations of ($0.37).

BML Capital Management LLC boosted its position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 3,747,612 shares of the company's stock after purchasing an additional 280,928 shares during the quarter. PMV Pharmaceuticals comprises approximately 3.1% of BML Capital Management LLC's investment portfolio, making the stock its 11th largest position. BML Capital Management LLC owned about 7.21% of PMV Pharmaceuticals worth $4,085,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in PMVP. JPMorgan Chase & Co. increased its holdings in PMV Pharmaceuticals by 2,282.8% during the 4th quarter. JPMorgan Chase & Co. now owns 24,591 shares of the company's stock worth $37,000 after purchasing an additional 23,559 shares during the period. Velan Capital Investment Management LP acquired a new stake in PMV Pharmaceuticals during the 4th quarter worth approximately $53,000. Squarepoint Ops LLC raised its stake in shares of PMV Pharmaceuticals by 68.7% during the 4th quarter. Squarepoint Ops LLC now owns 73,015 shares of the company's stock worth $110,000 after buying an additional 29,722 shares in the last quarter. Northern Trust Corp boosted its position in shares of PMV Pharmaceuticals by 23.2% during the 4th quarter. Northern Trust Corp now owns 107,340 shares of the company's stock worth $162,000 after purchasing an additional 20,190 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its stake in PMV Pharmaceuticals by 44.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 202,100 shares of the company's stock valued at $305,000 after purchasing an additional 62,200 shares in the last quarter. 90.20% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, CEO David Henry Mack sold 58,411 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1.06, for a total transaction of $61,915.66. Following the completion of the transaction, the chief executive officer directly owned 536,133 shares of the company's stock, valued at approximately $568,300.98. This represents a 9.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Deepika Jalota sold 33,065 shares of the stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $1.06, for a total value of $35,048.90. Following the completion of the transaction, the insider directly owned 89,959 shares of the company's stock, valued at $95,356.54. This trade represents a 26.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 114,627 shares of company stock worth $121,505. Insiders own 7.57% of the company's stock.

PMV Pharmaceuticals Price Performance

NASDAQ PMVP opened at $1.44 on Friday. The business has a 50 day moving average price of $1.10 and a 200 day moving average price of $1.17. The company has a market capitalization of $74.81 million, a P/E ratio of -1.22 and a beta of 1.49. PMV Pharmaceuticals, Inc. has a 1-year low of $0.81 and a 1-year high of $1.82.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last issued its earnings results on Friday, May 9th. The company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($0.37) by $0.03. On average, research analysts expect that PMV Pharmaceuticals, Inc. will post -1.06 earnings per share for the current fiscal 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.

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