PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Short Interest Update

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) was the target of a large decline in short interest in the month of January. As of January 31st, there was short interest totalling 859,200 shares, a decline of 37.7% from the January 15th total of 1,380,000 shares. Currently, 2.0% of the company’s shares are short sold. Based on an average trading volume of 179,500 shares, the short-interest ratio is currently 4.8 days.

Wall Street Analyst Weigh In

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

PMV Pharmaceuticals Trading Down 2.9 %

PMVP opened at $1.36 on Thursday. The stock’s 50-day moving average price is $1.47 and its 200 day moving average price is $1.53. PMV Pharmaceuticals has a 12-month low of $1.32 and a 12-month high of $2.26. The firm has a market cap of $70.38 million, a price-to-earnings ratio of -1.36 and a beta of 1.46.

Institutional Trading of PMV Pharmaceuticals

A number of institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. boosted its stake in shares of PMV Pharmaceuticals by 2,282.8% in the fourth quarter. JPMorgan Chase & Co. now owns 24,591 shares of the company’s stock valued at $37,000 after purchasing an additional 23,559 shares during the period. Virtu Financial LLC acquired a new stake in PMV Pharmaceuticals during the 3rd quarter worth approximately $42,000. Cubist Systematic Strategies LLC lifted its holdings in PMV Pharmaceuticals by 570.8% during the 2nd 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 in the last quarter. Assenagon Asset Management S.A. boosted its position in PMV Pharmaceuticals by 36.1% in the 3rd quarter. Assenagon Asset Management S.A. now owns 353,837 shares of the company’s stock valued at $527,000 after buying an additional 93,809 shares during the period. Finally, M&T Bank Corp grew its stake 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 worth $596,000 after acquiring an additional 141,064 shares in the last quarter. 90.20% of the stock is currently owned by hedge funds and other institutional investors.

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.