The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. PMV Pharmaceuticals Inc. shares valued at $418,210 were sold by ORBIMED ADVISORS LLC on May 26. At $15.93 per share, ORBIMED ADVISORS LLC sold 26,253 shares. The insider’s holdings dropped to 87,786 shares worth approximately $1.02 million following the completion of this transaction.
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Also, ORBIMED ADVISORS LLC sold 34,500 shares, netting a total of over 730,365 in proceeds. Following the sale of shares at $21.17 each, the insider now holds 0 shares.
Before that, ORBIMED ADVISORS LLC had sold 75,000 shares from its account. In a trade valued at $1,679,250, the 10% Owner traded PMV Pharmaceuticals Inc. shares for $22.39 each. Upon closing the transaction, the insider’s holdings decreased to 75,000 shares, worth approximately $0.4 million.
As published in a research note from Oppenheimer on March 02, 2022, PMV Pharmaceuticals Inc. [PMVP] has been rated up from a Perform to an Outperform and the price target has been revised to $30. This represents a 61.13% premium over Wednesday’s closing price. Analysts at Goldman upgraded the stock from ‘”a Neutral”‘ to ‘”a Buy”‘ outlook in a report released in late September. As of August 19, 2021, Oppenheimer has initiated its “Perform” rating for PMVP. Earlier on August 02, 2021, Guggenheim initiated its rating. Their recommendation was “a Buy” for PMVP stock.
Analyzing PMVP’s Price Performance
On Wednesday, PMV Pharmaceuticals Inc. [NASDAQ: PMVP] rose 8.77% to $11.66. The stock’s lowest price that day was $10.50, but it reached a high of $12.095 in the same session. During the last five days, there has been a surge of approximately 23.52%. Over the course of the year, PMV Pharmaceuticals Inc. shares have dropped approximately -49.52%. Shares of the company reached a 52-week high of $24.26 on 03/30/22 and a 52-week low of $8.99 on 06/14/22. A 50-day SMA is recorded $13.84, while a 200-day SMA reached $19.91. Nevertheless, trading volume fell to 1.47 million shares from 2.45 million shares the previous day.
Support And Resistance Levels for PMV Pharmaceuticals Inc. (PMVP)
According to the 24-hour chart, there is a support level at 10.74, which, if violated, would cause prices to drop to 9.82. In the upper region, resistance lies at 12.34. The next price resistance is at 13.01. RSI (Relative Strength Index) is 47.97 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.03, which suggests the price will decrease in the coming days. Percent R is at 57.07%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of PMV Pharmaceuticals Inc. (PMVP)?
According to RTW Investments LP filings, the company currently owns 3,872,154 shares, which is about 8.50% of the total PMVP shares outstanding. The investor’s shares have appreciated by 891,194 from its previous 13-F filing of 2980960.0 shares. With the completion of the buy, Morgan Stanley & Co. LLC’s stake is now worth $41,048,115. The Vanguard Group, Inc. acquire a 3.68% interest valued at $31.53 million while SSgA Funds Management, Inc. purchased a 889,190 stake. A total of 2,368,860 shares of PMV Pharmaceuticals Inc. were bought by Citadel Advisors LLC during the quarter, and 0 were sold by Euclidean Capital LLC. In its current portfolio, Avoro Capital Advisor LLC holds 2,200,000 shares valued at $25.87 million.
In terms of PMV Pharmaceuticals Inc. share price expectations, FactSet research, analysts set an average price target of $43.00 in the next 12 months, up nearly 287.13% from the previous closing price of $10.72. Analysts anticipate PMV Pharmaceuticals Inc. stock to reach $63.00 by 2022, with the lowest price target being $25.00. In spite of this, 7 analysts ranked PMV Pharmaceuticals Inc. stock as a Buy at the end of 2022. On July 29, 2021, H.C. Wainwright assigned a price target of “a Buy” to the stock and initiated coverage with a $63.