PMV Pharmaceuticals (NASDAQ:PMVP) Receives “Buy” Rating from HC Wainwright

PMV Pharmaceuticals (NASDAQ:PMVP)‘s stock had its “buy” rating reiterated by equities researchers at HC Wainwright in a report released on Thursday,Benzinga reports. They currently have a $5.00 price target on the stock. HC Wainwright’s price target indicates a potential upside of 293.70% from the stock’s current price.

PMV Pharmaceuticals Trading Up 0.8 %

Shares of NASDAQ:PMVP opened at $1.27 on Thursday. PMV Pharmaceuticals has a 1 year low of $1.20 and a 1 year high of $2.26. The business has a fifty day simple moving average of $1.36 and a 200 day simple moving average of $1.49. The firm has a market cap of $65.96 million, a price-to-earnings ratio of -1.27 and a beta of 1.45.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its earnings results on Monday, March 3rd. The company reported ($0.45) EPS for the quarter, missing the consensus estimate of ($0.37) by ($0.08). On average, sell-side analysts forecast that PMV Pharmaceuticals will post -1.06 EPS for the current year.

Institutional Investors Weigh In On PMV Pharmaceuticals

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Velan Capital Investment Management LP acquired a new stake in shares of PMV Pharmaceuticals in the fourth quarter valued at about $53,000. Squarepoint Ops LLC grew 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 valued at $110,000 after purchasing an additional 29,722 shares during the last quarter. Two Sigma Investments LP grew its position in shares of PMV Pharmaceuticals by 5.0% in the fourth quarter. Two Sigma Investments LP now owns 506,986 shares of the company’s stock valued at $766,000 after purchasing an additional 23,931 shares during the last quarter. Stonepine Capital Management LLC acquired a new stake in shares of PMV Pharmaceuticals in the fourth quarter valued at about $809,000. Finally, Bridgeway Capital Management LLC grew its position in shares of PMV Pharmaceuticals by 44.5% in the fourth quarter. Bridgeway Capital Management LLC now owns 202,100 shares of the company’s stock valued at $305,000 after purchasing an additional 62,200 shares during the last quarter. 90.20% of the stock is owned by institutional investors and hedge funds.

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.