PMV Pharmaceuticals (NASDAQ:PMVP) Major Shareholder Sells $900,000.00 in Stock

Key Points

• Orbimed Advisors LLC sold 500,000 shares of PMV Pharmaceuticals for a total of $900,000, reducing their ownership by 7.72% to 5,975,291 shares.
• PMV Pharmaceuticals reported a quarterly loss of ($0.41) EPS, missing the consensus estimate of ($0.39) EPS by $0.02.
• Institutional investors own approximately 90.20% of PMV Pharmaceuticals, with recent increases in stake by firms like Northern Trust Corp and Stonepine Capital Management LLC.

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Get Free Report) major shareholder Orbimed Advisors Llc sold 500,000 shares of the firm's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $1.80, for a total value of $900,000.00. Following the sale, the insider directly owned 5,975,291 shares of the company's stock, valued at approximately $10,755,523.80. This represents a 7.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

PMV Pharmaceuticals Stock Performance

PMVP traded up $0.05 during trading on Wednesday, reaching $1.25. The company had a trading volume of 1,509,741 shares, compared to its average volume of 2,616,875. The firm's 50-day simple moving average is $1.41 and its 200 day simple moving average is $1.17. The company has a market cap of $66.24 million, a price-to-earnings ratio of -0.80 and a beta of 1.52. PMV Pharmaceuticals, Inc. has a 12-month low of $0.81 and a 12-month high of $1.84.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last announced its earnings results on Thursday, August 7th. The company reported ($0.41) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.02). On average, sell-side analysts expect that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current year.

Institutional Trading of PMV Pharmaceuticals

Hedge funds have recently modified their holdings of the business. BML Capital Management LLC lifted its stake in PMV Pharmaceuticals by 33.4% in the second quarter. BML Capital Management LLC now owns 5,000,000 shares of the company's stock valued at $5,300,000 after acquiring an additional 1,252,388 shares during the last quarter. Stonepine Capital Management LLC bought a new position in shares of PMV Pharmaceuticals during the 4th quarter valued at $809,000. Assenagon Asset Management S.A. raised its holdings in shares of PMV Pharmaceuticals by 128.7% during the 2nd quarter. Assenagon Asset Management S.A. now owns 263,059 shares of the company's stock valued at $279,000 after purchasing an additional 148,021 shares in the last quarter. Peapod Lane Capital LLC boosted its holdings in PMV Pharmaceuticals by 9.8% in the first quarter. Peapod Lane Capital LLC now owns 489,370 shares of the company's stock worth $533,000 after purchasing an additional 43,626 shares in the last quarter. Finally, Velan Capital Investment Management LP acquired a new position in PMV Pharmaceuticals during the fourth quarter worth $53,000. Hedge funds and other institutional investors own 90.20% of the company's stock.

About PMV Pharmaceuticals

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.