Assenagon Asset Management S.A. Has $232,000 Stock Position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Assenagon Asset Management S.A. lessened its position in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 56.6% during the 4th quarter, HoldingsChannel reports. The fund owned 153,701 shares of the company’s stock after selling 200,136 shares during the quarter. Assenagon Asset Management S.A.’s holdings in PMV Pharmaceuticals were worth $232,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. ArrowMark Colorado Holdings LLC grew its holdings in PMV Pharmaceuticals by 30.0% during the 3rd quarter. ArrowMark Colorado Holdings LLC now owns 3,647,291 shares of the company’s stock worth $5,434,000 after acquiring an additional 842,509 shares during the period. PFM Health Sciences LP boosted its position in shares of PMV Pharmaceuticals by 57.7% in the 3rd quarter. PFM Health Sciences LP now owns 2,011,040 shares of the company’s stock worth $2,996,000 after purchasing an additional 735,578 shares during the last quarter. Sio Capital Management LLC grew its stake in shares of PMV Pharmaceuticals by 18.7% during the third quarter. Sio Capital Management LLC now owns 3,214,239 shares of the company’s stock worth $4,789,000 after purchasing an additional 505,831 shares during the period. BML Capital Management LLC increased 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 purchasing an additional 379,375 shares during the last quarter. Finally, M&T Bank Corp lifted its stake in 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 buying an additional 141,064 shares during the period. Institutional investors own 90.20% of the company’s stock.

Wall Street Analysts Forecast Growth

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

PMV Pharmaceuticals Stock Performance

Shares of PMVP stock opened at $1.37 on Friday. The company has a market capitalization of $70.90 million, a price-to-earnings ratio of -1.37 and a beta of 1.46. PMV Pharmaceuticals, Inc. has a 52 week low of $1.32 and a 52 week high of $2.26. The company has a 50-day simple moving average of $1.52 and a 200 day simple moving average of $1.55.

PMV Pharmaceuticals (NASDAQ:PMVP) last announced its earnings results on Thursday, November 7th. The company reported ($0.37) EPS for the quarter, missing the consensus estimate of ($0.35) by ($0.02). Sell-side analysts forecast that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current year.

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.