M&T Bank Corp Increases Stock Position in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

M&T Bank Corp grew its position in shares of PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) by 54.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 399,548 shares of the company’s stock after purchasing an additional 141,064 shares during the quarter. M&T Bank Corp owned approximately 0.77% of PMV Pharmaceuticals worth $596,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in PMV Pharmaceuticals by 267.2% in the second quarter. Assenagon Asset Management S.A. now owns 260,028 shares of the company’s stock valued at $421,000 after purchasing an additional 189,214 shares during the period. BML Capital Management LLC grew its position in PMV Pharmaceuticals by 29.0% in the 3rd 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 last quarter. Sio Capital Management LLC increased its stake in PMV Pharmaceuticals by 18.7% in the 3rd quarter. Sio Capital Management LLC now owns 3,214,239 shares of the company’s stock valued at $4,789,000 after buying an additional 505,831 shares during the period. Point72 Asia Singapore Pte. Ltd. purchased a new position in PMV Pharmaceuticals during the 2nd quarter worth $101,000. Finally, ArrowMark Colorado Holdings LLC lifted its stake in shares of PMV Pharmaceuticals by 30.0% in 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. Hedge funds and other institutional investors own 90.20% of the company’s stock.

PMV Pharmaceuticals Trading Down 2.6 %

Shares of PMV Pharmaceuticals stock opened at $1.52 on Wednesday. The company has a 50-day moving average of $1.61 and a two-hundred day moving average of $1.59. PMV Pharmaceuticals, Inc. has a 12-month low of $1.40 and a 12-month high of $3.47. The stock 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 quarterly earnings data on Thursday, November 7th. The company reported ($0.37) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.35) by ($0.02). On average, sell-side analysts forecast that PMV Pharmaceuticals, Inc. will post -1.06 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on PMVP. Oppenheimer upgraded shares of PMV Pharmaceuticals from a “market perform” rating to an “outperform” rating and set a $6.00 price target on the stock in a research note on Friday, November 8th. HC Wainwright reiterated a “buy” rating and set a $5.00 target price on shares of PMV Pharmaceuticals in a research report on Tuesday, August 20th. Five equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $5.80.

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.