Insider Selling: PMV Pharmaceuticals (NASDAQ:PMVP) Major Shareholder Sells 500,000 Shares of 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 company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $1.80, for a total transaction of $900,000.00. Following the transaction, the insider 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 position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company's shares are required to disclose their transactions with the SEC.

PMV Pharmaceuticals Trading Up 7.1%

Shares of NASDAQ:PMVP traded up $0.09 during midday trading on Wednesday, reaching $1.29. 210,022 shares of the company were exchanged, compared to its average volume of 478,611. The business's fifty day moving average is $1.41 and its two-hundred day moving average is $1.17. PMV Pharmaceuticals, Inc. has a one year low of $0.81 and a one year high of $1.84. The stock has a market cap of $68.09 million, a PE ratio of -0.82 and a beta of 1.52.

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

Hedge Funds Weigh In On PMV Pharmaceuticals

Several institutional investors have recently bought and sold shares of the business. BML Capital Management LLC lifted its position in PMV Pharmaceuticals by 33.4% during the second quarter. BML Capital Management LLC now owns 5,000,000 shares of the company's stock valued at $5,300,000 after purchasing an additional 1,252,388 shares during the last quarter. Acadian Asset Management LLC lifted its position in PMV Pharmaceuticals by 0.9% during the second quarter. Acadian Asset Management LLC now owns 2,066,137 shares of the company's stock valued at $2,188,000 after purchasing an additional 18,960 shares during the last quarter. Stonepine Capital Management LLC lifted its position in PMV Pharmaceuticals by 34.2% during the second quarter. Stonepine Capital Management LLC now owns 845,968 shares of the company's stock valued at $897,000 after purchasing an additional 215,785 shares during the last quarter. Aldebaran Capital LLC lifted its position in PMV Pharmaceuticals by 4.3% during the first quarter. Aldebaran Capital LLC now owns 523,553 shares of the company's stock valued at $571,000 after purchasing an additional 21,363 shares during the last quarter. Finally, Two Sigma Investments LP lifted its holdings in shares of PMV Pharmaceuticals by 5.0% in the 4th quarter. Two Sigma Investments LP now owns 506,986 shares of the company's stock worth $766,000 after acquiring an additional 23,931 shares during the last quarter. 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.