HC Wainwright Reiterates “Buy” Rating for PMV Pharmaceuticals (NASDAQ:PMVP)

PMV Pharmaceuticals (NASDAQ:PMVP)‘s stock had its “buy” rating reaffirmed by stock analysts at HC Wainwright in a research report issued to clients and investors on Thursday,Benzinga reports. They currently have a $5.00 price objective on the stock. HC Wainwright’s target price indicates a potential upside of 293.70% from the stock’s previous close.

PMV Pharmaceuticals Stock Performance

Shares of NASDAQ:PMVP opened at $1.27 on Thursday. PMV Pharmaceuticals has a one year low of $1.20 and a one year high of $2.26. The stock has a fifty day moving average of $1.36 and a 200-day moving average of $1.49. The company has a market capitalization of $65.96 million, a PE ratio of -1.27 and a beta of 1.45.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its quarterly earnings data on Monday, March 3rd. The company reported ($0.45) EPS for the quarter, missing analysts’ consensus estimates of ($0.37) by ($0.08). As a group, research analysts forecast that PMV Pharmaceuticals will post -1.06 EPS for the current fiscal year.

Institutional Investors Weigh In On PMV Pharmaceuticals

A number of institutional investors and hedge funds have recently modified their holdings of PMVP. Sio Capital Management LLC lifted its holdings in shares of PMV Pharmaceuticals by 18.7% in the third quarter. Sio Capital Management LLC now owns 3,214,239 shares of the company’s stock valued at $4,789,000 after purchasing an additional 505,831 shares in the last quarter. PFM Health Sciences LP lifted its holdings in shares of PMV Pharmaceuticals by 57.7% in the third quarter. PFM Health Sciences LP now owns 2,011,040 shares of the company’s stock valued at $2,996,000 after purchasing an additional 735,578 shares in the last quarter. ArrowMark Colorado Holdings LLC lifted its holdings in shares of PMV Pharmaceuticals by 30.0% in the third quarter. ArrowMark Colorado Holdings LLC now owns 3,647,291 shares of the company’s stock valued at $5,434,000 after purchasing an additional 842,509 shares in the last quarter. M&T Bank Corp lifted its holdings in shares of PMV Pharmaceuticals by 54.6% in the third quarter. M&T Bank Corp now owns 399,548 shares of the company’s stock valued at $596,000 after purchasing an additional 141,064 shares in the last quarter. Finally, Virtu Financial LLC purchased a new stake in shares of PMV Pharmaceuticals in the third quarter valued at $42,000. Institutional investors and hedge funds own 90.20% of the company’s stock.

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.