PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Sees Large Drop in Short Interest
by Mitch Edgeman · The Markets DailyPMV Pharmaceuticals, Inc. (NASDAQ:PMVP – Get Free Report) was the recipient of a significant decline in short interest in February. As of February 27th, there was short interest totaling 1,232,783 shares, a decline of 18.0% from the February 12th total of 1,503,564 shares. Based on an average daily volume of 882,107 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.5% of the company’s stock are sold short. Currently, 2.5% of the company’s stock are sold short. Based on an average daily volume of 882,107 shares, the days-to-cover ratio is presently 1.4 days.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of PMV Pharmaceuticals in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.00.
Get Our Latest Report on PMV Pharmaceuticals
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC boosted its holdings in PMV Pharmaceuticals by 0.9% during the second quarter. Acadian Asset Management LLC now owns 2,066,137 shares of the company’s stock valued at $2,188,000 after purchasing an additional 18,960 shares in the last quarter. BML Capital Management LLC raised its holdings in shares of PMV Pharmaceuticals by 33.4% in the 2nd quarter. BML Capital Management LLC now owns 5,000,000 shares of the company’s stock worth $5,300,000 after buying an additional 1,252,388 shares in the last quarter. Stonepine Capital Management LLC lifted its position in shares of PMV Pharmaceuticals by 34.2% during the 2nd quarter. Stonepine Capital Management LLC now owns 845,968 shares of the company’s stock worth $897,000 after buying an additional 215,785 shares during the period. Shay Capital LLC bought a new position in shares of PMV Pharmaceuticals during the 2nd quarter worth approximately $26,000. Finally, PNC Financial Services Group Inc. boosted its stake in PMV Pharmaceuticals by 16.7% in the 3rd quarter. PNC Financial Services Group Inc. now owns 71,006 shares of the company’s stock valued at $99,000 after buying an additional 10,186 shares in the last quarter. Institutional investors and hedge funds own 90.20% of the company’s stock.
PMV Pharmaceuticals Trading Up 0.4%
PMV Pharmaceuticals stock traded up $0.01 on Tuesday, reaching $1.57. 38,446 shares of the stock were exchanged, compared to its average volume of 630,467. The stock has a market cap of $83.51 million, a PE ratio of -1.05 and a beta of 1.26. The firm has a fifty day moving average price of $1.24 and a two-hundred day moving average price of $1.31. PMV Pharmaceuticals has a twelve month low of $0.81 and a twelve month high of $1.88.
PMV Pharmaceuticals (NASDAQ:PMVP – Get Free Report) last issued its quarterly earnings results on Friday, March 6th. The company reported ($0.34) EPS for the quarter, topping the consensus estimate of ($0.40) by $0.06. Equities analysts anticipate that PMV Pharmaceuticals will post -1.06 EPS 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.