PMV Pharmaceuticals (NASDAQ:PMVP) Shares Down 3.7% - Here's What Happened

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Get Free Report)'s stock price dropped 3.7% during trading on Friday . The stock traded as low as $1.04 and last traded at $1.04. Approximately 54,559 shares traded hands during mid-day trading, a decline of 78% from the average daily volume of 252,493 shares. The stock had previously closed at $1.08.

Analysts Set New Price Targets

Separately, HC Wainwright reaffirmed a "buy" rating and set a $5.00 price objective on shares of PMV Pharmaceuticals in a research note on Thursday, March 20th.

PMV Pharmaceuticals Stock Up 0.3 %

The firm has a market capitalization of $51.59 million, a price-to-earnings ratio of -0.99 and a beta of 1.49. The business's fifty day moving average is $1.14 and its 200 day moving average is $1.39.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The company reported ($0.45) earnings per share for the quarter, missing the consensus estimate of ($0.37) by ($0.08). Equities research analysts expect that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PMVP. Aldebaran Capital LLC increased its position in shares of PMV Pharmaceuticals by 14.6% in the fourth quarter. Aldebaran Capital LLC now owns 502,190 shares of the company's stock valued at $758,000 after acquiring an additional 63,938 shares during the last quarter. Peapod Lane Capital LLC bought a new position in shares of PMV Pharmaceuticals during the 4th quarter worth approximately $673,000. BML Capital Management LLC increased its stake in shares of PMV Pharmaceuticals by 105.3% during the fourth quarter. BML Capital Management LLC now owns 3,466,684 shares of the company's stock worth $5,235,000 after purchasing an additional 1,777,912 shares during the period. Virtu Financial LLC bought a new stake in shares of PMV Pharmaceuticals during the 3rd quarter valued at $42,000. Finally, Squarepoint Ops LLC increased its position in shares of PMV Pharmaceuticals by 68.7% in the fourth quarter. Squarepoint Ops LLC now owns 73,015 shares of the company's stock worth $110,000 after purchasing an additional 29,722 shares during the period. Institutional investors own 90.20% of the company's stock.

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.