PMV Pharmaceuticals (NASDAQ:PMVP) Stock Rating Cut to Sell at Wall Street Zen

Wall Street Zen cut shares of PMV Pharmaceuticals (NASDAQ:PMVP) from a hold rating to a sell rating in a report issued on Sunday morning,Wall Street Zen reports.

PMVP has been the subject of a number of other research reports. Weiss Ratings raised shares of PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Thursday, September 24th. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of PMV Pharmaceuticals in a research note on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $4.33.

PMV Pharmaceuticals Price Performance

Shares of PMVP stock opened at $1.26 on Friday. The company has a 50 day moving average price of $1.39 and a 200-day moving average price of $1.30. PMV Pharmaceuticals has a 52 week low of $1.02 and a 52 week high of $1.91. The firm has a market capitalization of $67.36 million, a PE ratio of -0.89 and a beta of 1.52.

PMV Pharmaceuticals (NASDAQ:PMVP) last issued its quarterly earnings data on Friday, August 14th. The company reported ($0.34) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.39) by $0.05. Analysts anticipate that PMV Pharmaceuticals will post -1.20 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. BML Capital Management LLC lifted its stake in shares of PMV Pharmaceuticals by 37.5% in the 3rd quarter. BML Capital Management LLC now owns 7,330,000 shares of the company’s stock worth $12,241,000 after purchasing an additional 2,000,000 shares during the period. Cooper Haims Advisors LLC purchased a new position in shares of PMV Pharmaceuticals in the second quarter worth approximately $52,000. Susquehanna International Group LLP purchased a new position in shares of PMV Pharmaceuticals in the second quarter worth approximately $50,000. Stonepine Capital Management LLC bought a new stake in PMV Pharmaceuticals during the second quarter valued at approximately $718,355. Finally, Bank of America Corp DE bought a new stake in PMV Pharmaceuticals during the second quarter valued at approximately $322,000. 90.20% of the stock is owned by hedge funds and other institutional investors.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-causing mutations in the tumor suppressor protein p53. The company aims to discover and develop small-molecule medicines designed to restore the normal tumor-suppressing function of mutant p53 proteins.

PMV’s lead product candidate is rezatapopt, also known as PC14586, an investigational oral therapy designed to selectively target the p53 Y220C mutation. This mutation occurs in a range of solid tumors, and rezatapopt is being evaluated for its potential to reactivate the altered p53 protein and inhibit cancer-cell growth.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals is advancing rezatapopt through clinical development in patients with advanced solid tumors containing the p53 Y220C mutation.