PMV Pharmaceuticals (NASDAQ:PMVP) Posts Quarterly Earnings Results, Misses Expectations By $0.18 EPS

PMV Pharmaceuticals (NASDAQ:PMVP) issued its earnings results on Tuesday. The company reported ($0.52) earnings per share for the quarter, missing the consensus estimate of ($0.34) by ($0.18), FiscalAI reports.

PMV Pharmaceuticals Price Performance

PMV Pharmaceuticals stock traded down $0.02 during mid-day trading on Tuesday, hitting $1.23. 144,498 shares of the company were exchanged, compared to its average volume of 522,175. The business’s 50 day simple moving average is $1.39 and its two-hundred day simple moving average is $1.30. The company has a market capitalization of $65.60 million, a P/E ratio of -0.87 and a beta of 1.52. PMV Pharmaceuticals has a 12-month low of $1.02 and a 12-month high of $1.91.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on PMVP. Weiss Ratings raised PMV Pharmaceuticals from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Thursday, September 24th. Wall Street Zen cut shares of PMV Pharmaceuticals from a “hold” rating to a “sell” rating in a research note on Sunday. Finally, HC Wainwright restated a “buy” rating and set a $5.00 target price on shares of PMV Pharmaceuticals in a report on Friday, September 4th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $4.33.

About PMV Pharmaceuticals

PMV Pharmaceuticals, Inc is a clinical-stage precision oncology company focused on developing therapies that target cancer-causing mutations in the tumor suppressor protein p53. The company aims to discover and develop small-molecule medicines designed to restore the normal tumor-suppressing function of mutant p53 proteins.

PMV’s lead product candidate is rezatapopt, also known as PC14586, an investigational oral therapy designed to selectively target the p53 Y220C mutation. This mutation occurs in a range of solid tumors, and rezatapopt is being evaluated for its potential to reactivate the altered p53 protein and inhibit cancer-cell growth.

Founded in 2013 and headquartered in Cranbury, New Jersey, PMV Pharmaceuticals is advancing rezatapopt through clinical development in patients with advanced solid tumors containing the p53 Y220C mutation.