Bailard Inc. Boosts Stake in Provention Bio Inc (NASDAQ:PRVB)

Bailard Inc. grew its stake in shares of Provention Bio Inc (NASDAQ:PRVB) by 37.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,300 shares of the company’s stock after purchasing an additional 15,101 shares during the quarter. Bailard Inc.’s holdings in Provention Bio were worth $377,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of PRVB. US Bancorp DE acquired a new position in shares of Provention Bio during the second quarter worth about $36,000. Acadian Asset Management LLC acquired a new position in shares of Provention Bio during the second quarter worth about $72,000. Morgan Stanley lifted its stake in shares of Provention Bio by 15,450.0% during the second quarter. Morgan Stanley now owns 7,775 shares of the company’s stock worth $94,000 after purchasing an additional 7,725 shares in the last quarter. Wells Fargo & Company MN acquired a new position in shares of Provention Bio during the second quarter worth about $194,000. Finally, Bronfman E.L. Rothschild L.P. acquired a new position in shares of Provention Bio during the second quarter worth about $303,000. Institutional investors own 5.62% of the company’s stock.

NASDAQ:PRVB opened at $6.02 on Wednesday. Provention Bio Inc has a one year low of $1.52 and a one year high of $22.82. The business’s 50-day simple moving average is $7.95 and its 200 day simple moving average is $7.75. The stock has a market cap of $243.58 million, a price-to-earnings ratio of -5.06 and a beta of 5.79.

Provention Bio (NASDAQ:PRVB) last released its quarterly earnings results on Tuesday, August 6th. The company reported ($0.32) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.30) by ($0.02). As a group, equities research analysts expect that Provention Bio Inc will post -1.2 EPS for the current fiscal year.

In other Provention Bio news, insider Ashleigh Palmer purchased 10,600 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were acquired at an average price of $9.15 per share, for a total transaction of $96,990.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Anthony Digiandomenico purchased 30,000 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The stock was acquired at an average price of $6.83 per share, for a total transaction of $204,900.00. In the last quarter, insiders purchased 60,050 shares of company stock worth $471,002. Insiders own 19.60% of the company’s stock.

A number of research analysts have commented on the company. HC Wainwright restated a “buy” rating and set a $20.00 price objective (up previously from $8.00) on shares of Provention Bio in a research note on Wednesday, June 26th. Chardan Capital restated a “buy” rating on shares of Provention Bio in a research note on Thursday, September 19th. ValuEngine cut Provention Bio from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Finally, Leerink Swann boosted their price objective on Provention Bio from $17.00 to $35.00 and gave the stock an “outperform” rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the company. Provention Bio currently has a consensus rating of “Buy” and a consensus target price of $16.75.

Provention Bio Company Profile

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics and cutting-edge solutions to intercept and prevent immune-mediated diseases. Its products candidates include PRV-031 teplizumab and monoclonal antibodies (mAb) that is in Phase III clinical trial for the interception of type one diabetes (T1D); PRV-6527, oral CSF-1R inhibitor, which is in Phase 2a clinical trial for the treatment of Crohn's disease; PRV-300, anti-TLR3 mAb, which is in Phase 1b clinical trial for the treatment of ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101, a multivalent coxsackie virus vaccine for the prevention of acute Coxsackie Virus B Vaccine and the prevention of the onset of T1D.

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Institutional Ownership by Quarter for Provention Bio (NASDAQ:PRVB)

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