PMV Pharmaceuticals (NASDAQ:PMVP) Issues Earnings Results, Misses Estimates By $0.18 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) issued its earnings results on Tuesday. The company reported ($0.52) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.34) by ($0.18), FiscalAI reports.

PMV Pharmaceuticals Stock Down 2.0%

Shares of PMVP stock traded down $0.03 during mid-day trading on Tuesday, reaching $1.23. The company’s stock had a trading volume of 199,445 shares, compared to its average volume of 522,255. The firm has a market capitalization of $65.49 million, a PE ratio of -0.87 and a beta of 1.52. The company’s 50 day simple moving average is $1.39 and its 200-day simple moving average is $1.30. PMV Pharmaceuticals has a 12-month low of $1.02 and a 12-month high of $1.91.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on PMVP. Wall Street Zen downgraded PMV Pharmaceuticals from a “hold” rating to a “sell” rating in a report on Sunday. Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. Finally, HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of PMV Pharmaceuticals in a report on Friday, September 4th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, PMV Pharmaceuticals presently has a consensus rating of “Moderate Buy” and an average price target of $4.33.

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.