Short Interest in PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) Declines By 37.7%

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP - Get Free Report) saw a large drop in short interest in January. As of January 31st, there was short interest totalling 859,200 shares, a drop of 37.7% from the January 15th total of 1,380,000 shares. Approximately 2.0% of the shares of the company are short sold. Based on an average daily trading volume, of 179,500 shares, the days-to-cover ratio is currently 4.8 days.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PMVP. JPMorgan Chase & Co. lifted its stake in shares of PMV Pharmaceuticals by 2,282.8% during the 4th quarter. JPMorgan Chase & Co. now owns 24,591 shares of the company's stock valued at $37,000 after buying an additional 23,559 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of PMV Pharmaceuticals during the 3rd quarter valued at $42,000. Cubist Systematic Strategies LLC lifted its stake in shares of PMV Pharmaceuticals by 570.8% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 69,867 shares of the company's stock valued at $113,000 after buying an additional 59,452 shares in the last quarter. Northern Trust Corp lifted its stake in PMV Pharmaceuticals by 23.2% in the 4th quarter. Northern Trust Corp now owns 107,340 shares of the company's stock worth $162,000 after purchasing an additional 20,190 shares in the last quarter. Finally, Bridgeway Capital Management LLC lifted its stake in PMV Pharmaceuticals by 44.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 202,100 shares of the company's stock worth $305,000 after purchasing an additional 62,200 shares in the last quarter. Hedge funds and other institutional investors own 90.20% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer raised shares of PMV Pharmaceuticals from a "market perform" rating to an "outperform" rating and set a $6.00 price target for the company in a research report on Friday, November 8th. Four research 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 company has an average rating of "Buy" and an average target price of $5.50.

PMV Pharmaceuticals Stock Performance

Shares of PMVP stock traded down $0.03 during mid-day trading on Monday, reaching $1.39. 64,988 shares of the company's stock traded hands, compared to its average volume of 151,108. PMV Pharmaceuticals has a 12 month low of $1.32 and a 12 month high of $2.26. The firm has a 50 day moving average price of $1.46 and a two-hundred day moving average price of $1.53. The firm has a market capitalization of $71.93 million, a PE ratio of -1.39 and a beta of 1.46.

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.