Short Interest in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Increases By 48.3%

Key Points

• Short interest jumped 48.3% to 2,314,712 shares as of April 15, equal to roughly 4.7% of the stock and a short-interest ratio of 5.0 days based on average daily volume.
• Institutional ownership is high at 90.2%, with several funds increasing stakes (e.g., Assenagon +156.8% to 360,786 shares and Tang Capital holding 4,940,000 shares), indicating significant institutional positioning.
• Wall Street views are mixed—Evercore upgraded to a “strong-buy” while Weiss kept a sell rating, leaving the MarketBeat consensus at a “Moderate Buy”; PMVP is a small-cap (~$76.8M) biotech trading with negative EPS.

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Get Free Report) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totaling 2,314,712 shares, a growth of 48.3% from the March 31st total of 1,560,810 shares. Based on an average trading volume of 467,066 shares, the short-interest ratio is presently 5.0 days. Approximately 4.7% of the company's stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. increased its position in PMV Pharmaceuticals by 156.8% during the 1st quarter. Assenagon Asset Management S.A. now owns 360,786 shares of the company's stock valued at $447,000 after buying an additional 220,318 shares in the last quarter. Seven Fleet Capital Management LP bought a new position in PMV Pharmaceuticals during the 4th quarter valued at approximately $79,000. XTX Topco Ltd increased its position in PMV Pharmaceuticals by 144.3% during the 4th quarter. XTX Topco Ltd now owns 104,485 shares of the company's stock valued at $131,000 after buying an additional 61,723 shares in the last quarter. Tang Capital Management LLC increased its position in PMV Pharmaceuticals by 3.2% during the 4th quarter. Tang Capital Management LLC now owns 4,940,000 shares of the company's stock valued at $6,175,000 after buying an additional 154,799 shares in the last quarter. Finally, Bridgeway Capital Management LLC increased its position in PMV Pharmaceuticals by 33.7% during the 4th quarter. Bridgeway Capital Management LLC now owns 428,853 shares of the company's stock valued at $536,000 after buying an additional 108,200 shares in the last quarter. Institutional investors own 90.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on PMVP. Evercore raised PMV Pharmaceuticals to a "strong-buy" rating in a research report on Monday, April 13th. Weiss Ratings reissued a "sell (d-)" rating on shares of PMV Pharmaceuticals in a research report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, PMV Pharmaceuticals currently has an average rating of "Moderate Buy".

PMV Pharmaceuticals Price Performance

PMVP stock opened at $1.44 on Tuesday. PMV Pharmaceuticals has a twelve month low of $0.81 and a twelve month high of $1.88. The firm has a market cap of $76.80 million, a PE ratio of -0.97 and a beta of 1.40. The business has a 50 day moving average of $1.39 and a 200 day moving average of $1.31.

PMV Pharmaceuticals (NASDAQ:PMVP - Get Free Report) last posted its quarterly earnings data on Friday, March 6th. The company reported ($0.34) earnings per share for the quarter, beating analysts' consensus estimates of ($0.40) by $0.06. On average, research analysts expect that PMV Pharmaceuticals will post -1.6 earnings per share for the current fiscal year.

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. 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.

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