PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Shares Purchased by M&T Bank Corp

M&T Bank Corp grew its stake in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 54.6% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 399,548 shares of the company’s stock after acquiring an additional 141,064 shares during the quarter. M&T Bank Corp’s holdings in PMV Pharmaceuticals were worth $596,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Cubist Systematic Strategies LLC increased its position 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 purchasing an additional 59,452 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new stake in shares of PMV Pharmaceuticals during the 2nd quarter worth about $101,000. Evoke Wealth LLC purchased a new stake in PMV Pharmaceuticals in the 2nd quarter worth approximately $102,000. Assenagon Asset Management S.A. boosted its holdings in shares of 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 purchasing an additional 93,809 shares during the last quarter. Finally, BML Capital Management LLC boosted its holdings in shares of PMV Pharmaceuticals by 29.0% during the third quarter. BML Capital Management LLC now owns 1,688,772 shares of the company’s stock worth $2,516,000 after purchasing an additional 379,375 shares during the last quarter. 90.20% of the stock is owned by institutional investors and hedge funds.

PMV Pharmaceuticals Stock Performance

PMVP opened at $1.52 on Wednesday. PMV Pharmaceuticals, Inc. has a 1 year low of $1.40 and a 1 year high of $3.47. The firm has a 50 day moving average price of $1.61 and a 200 day moving average price of $1.59. The company has a market cap of $78.66 million, a PE ratio of -1.52 and a beta of 1.47.

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

Analysts Set New Price Targets

PMVP has been the topic of several recent analyst reports. Oppenheimer upgraded PMV Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 target price on the stock in a research report on Friday, November 8th. HC Wainwright reiterated a “buy” rating and set a $5.00 price objective on shares of PMV Pharmaceuticals in a report on Tuesday, August 20th. Five investment 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, the stock currently has a consensus rating of “Buy” and an average price target of $5.80.

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.