Jane Street Group LLC Sells 89,957 Shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Jane Street Group LLC trimmed its stake in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 54.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 74,089 shares of the company’s stock after selling 89,957 shares during the quarter. Jane Street Group LLC owned approximately 0.14% of PMV Pharmaceuticals worth $110,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in PMVP. Point72 Asia Singapore Pte. Ltd. acquired a new stake in PMV Pharmaceuticals during the 2nd quarter valued at approximately $101,000. Evoke Wealth LLC bought a new stake in shares of PMV Pharmaceuticals in the 2nd quarter valued at $102,000. Cubist Systematic Strategies LLC increased its position in shares of PMV Pharmaceuticals by 570.8% during the second quarter. Cubist Systematic Strategies LLC now owns 69,867 shares of the company’s stock worth $113,000 after buying an additional 59,452 shares during the period. Assenagon Asset Management S.A. raised its stake in PMV Pharmaceuticals by 36.1% during the third quarter. Assenagon Asset Management S.A. now owns 353,837 shares of the company’s stock worth $527,000 after buying an additional 93,809 shares during the last quarter. Finally, BML Capital Management LLC lifted its holdings in PMV Pharmaceuticals by 29.0% in the third quarter. BML Capital Management LLC now owns 1,688,772 shares of the company’s stock valued at $2,516,000 after buying an additional 379,375 shares during the period. 90.20% of the stock is owned by institutional investors and hedge funds.

PMV Pharmaceuticals Stock Down 2.9 %

Shares of NASDAQ PMVP opened at $1.35 on Wednesday. The company’s fifty day simple moving average is $1.57 and its 200 day simple moving average is $1.56. PMV Pharmaceuticals, Inc. has a 12-month low of $1.35 and a 12-month high of $2.26. The firm has a market cap of $69.86 million, a PE ratio of -1.35 and a beta of 1.46.

PMV Pharmaceuticals (NASDAQ:PMVP) last posted its quarterly earnings results on Thursday, November 7th. The company reported ($0.37) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). On average, equities analysts predict that PMV Pharmaceuticals, Inc. will post -1.06 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Oppenheimer upgraded PMV Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target for the company in a report on Friday, November 8th. Four research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $5.50.

PMV Pharmaceuticals 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.