Orbimed Advisors Sells 500,000 PMV Pharmaceuticals Shares, Reduces Holdings by 7.72%

Orbimed Advisors LLC reduced its holdings in PMV Pharmaceuticals by 7.72%, selling 500,000 shares at $1.80 each. Despite the reduction, Orbimed still holds 5.98 million shares, constituting 11.28% of its holdings in the stock. PMV Pharmaceuticals focuses on precision oncology and has a market capitalization of $66.238 million, with a current price of $1.25, a 30.56% decline since the recent transaction and a 96.43% drop since its IPO. The company has a GF Score of 41/100 and struggles with profitability and growth, but maintains a strong balance sheet.

Orbimed Advisors LLC, a significant shareholder in PMV Pharmaceuticals (NASDAQ:PMVP), has sold 500,000 shares of the company's stock. The transaction, completed on September 10th, saw Orbimed Advisors sell the shares at an average price of $1.80, totaling $900,000.00. Following the sale, Orbimed Advisors directly owned 5,975,291 shares in PMV Pharmaceuticals, representing a 7.72% decrease in its ownership of the stock Orbimed Advisors Llc Sells 500,000 Shares of PMV Pharmaceuticals (NASDAQ:PMVP) Stock^[1].

Despite the reduction, Orbimed Advisors still holds approximately 11.28% of PMV Pharmaceuticals' shares, amounting to 5.98 million shares. The transaction was disclosed in a legal filing with the SEC, as required for major shareholders owning more than 10% of a company's stock.

PMV Pharmaceuticals, a precision oncology company, engages in the discovery and development of small molecule and tumor-agnostic therapies for p53 mutations in cancer. The company's lead product candidate, PC14586, aims to correct mutant p53 protein containing the Y220C mutation and restore wild-type p53 function. PMV Pharmaceuticals reported a quarterly loss of ($0.41) EPS, missing the consensus estimate of ($0.39) EPS by $0.02 Orbimed Advisors Llc Sells 500,000 Shares of PMV Pharmaceuticals (NASDAQ:PMVP) Stock^[1].

The company's stock has faced significant declines. Since the recent transaction, PMV Pharmaceuticals' stock has dropped by 30.56% to $1.25. Over the past year, the stock has declined by 96.43% from its IPO price. Despite these declines, the company maintains a strong balance sheet, with a GF Score of 41/100, although it struggles with profitability and growth Orbimed Advisors Llc Sells 500,000 Shares of PMV Pharmaceuticals (NASDAQ:PMVP) Stock^[1].