5 Popular Penny Stocks on Robinhood to Watch in 2026

2. PMV Pharmaceuticals, Inc. (NASDAQ:PMVP)

Stock Price as of Last Close of May 26: $1.23

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) is among the most popular penny stocks on Robinhood. 

TheFly reported on May 13 that Oppenheimer reduced its price target on PMVP from $6 to $5 while maintaining an Outperform rating after the company’s latest quarterly update. The firm noted ongoing encouraging clinical activity for rezatapopt in ovarian cancer patients with the Y220C p53 mutation and KRAS wild-type tumors. Financial positioning showed $93.5 million in cash at the end of Q1, which is considered sufficient to support operations through the planned NDA submission in Q1 2027. However, additional funding would likely be required to sustain operations through the expected mid-to-late 2027 approval timeline for rezatapopt.

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) reported its first-quarter 2026 financial results on May 12, alongside a corporate update for the period ended March 31, 2026. The company highlighted continued enrollment progress in its Phase 2 PYNNACLE monotherapy study evaluating rezatapopt for TP53 Y220C-mutated advanced solid tumors, with regulatory submission plans for a New Drug Application targeted for Q1 2027. Clinical data presented earlier in the year showed meaningful response rates and sustained duration of benefit in ovarian cancer patients.

Financially, PMVP ended the quarter with $93.5 million in cash, down from $112.9 million previously, and reported higher net cash usage from operations alongside reduced R&D and G&A expenses. The update also included regulatory milestones such as an FDA orphan drug designation for rezatapopt across multiple rare ovarian-related cancers.

PMV Pharmaceuticals, Inc. (NASDAQ:PMVP) is a clinical-stage oncology company developing small-molecule therapies that aim to restore the function of the p53 tumor-suppressor protein to help treat cancer.