Provention Bio, Inc. (NASDAQ:PRVB) has earned an average rating of “Buy” from the nine brokerages that are covering the stock, Marketbeat reports. One equities research analyst has rated the stock with a hold recommendation and eight have given a buy recommendation to the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $15.33.
Several analysts have recently commented on PRVB shares. Sumitomo Mitsui Financial Group upgraded Provention Bio from a “neutral” rating to an “outperform” rating in a research note on Tuesday. SVB Leerink restated a “buy” rating and issued a $16.00 target price on shares of Provention Bio in a research note on Monday, September 20th. Zacks Investment Research upgraded Provention Bio from a “hold” rating to a “buy” rating and set a $8.00 target price for the company in a research note on Wednesday. HC Wainwright reiterated a “buy” rating and set a $25.00 price target on shares of Provention Bio in a research note on Tuesday, September 14th. Finally, Oppenheimer cut their price target on Provention Bio from $18.00 to $16.00 and set an “outperform” rating for the company in a research note on Friday, August 6th.
PRVB traded up $0.21 during midday trading on Friday, hitting $7.39. The company had a trading volume of 587,515 shares, compared to its average volume of 1,429,589. The stock’s 50 day moving average price is $6.45 and its 200 day moving average price is $6.87. Provention Bio has a 52 week low of $5.59 and a 52 week high of $20.05. The company has a market capitalization of $468.34 million, a price-to-earnings ratio of -3.71 and a beta of 2.84.
Institutional investors have recently bought and sold shares of the business. Bank of New York Mellon Corp lifted its position in shares of Provention Bio by 9.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 197,799 shares of the company’s stock worth $1,667,000 after buying an additional 17,770 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of Provention Bio in the 2nd quarter worth approximately $157,000. JPMorgan Chase & Co. raised its holdings in shares of Provention Bio by 21.5% in the 2nd quarter. JPMorgan Chase & Co. now owns 25,386 shares of the company’s stock worth $213,000 after purchasing an additional 4,493 shares during the period. Newbridge Financial Services Group Inc. raised its holdings in shares of Provention Bio by 100.0% in the 2nd quarter. Newbridge Financial Services Group Inc. now owns 13,000 shares of the company’s stock worth $110,000 after purchasing an additional 6,500 shares during the period. Finally, Goldman Sachs Group Inc. raised its holdings in shares of Provention Bio by 366.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 340,506 shares of the company’s stock worth $3,573,000 after purchasing an additional 267,517 shares during the period. 42.86% of the stock is currently owned by hedge funds and other institutional investors.
About Provention Bio
Provention Bio, Inc is a clinical-stage biopharmaceutical company, which engages in the development and commercialization of novel therapeutics and solutions. Its products include PRV-031 for the interception of type 1 diabetes (T1D); PRV-015 for the treatment of gluten-free diet non-responding celiac disease; PRV-6527 for Crohn’s disease; PRV-3279 for the treatment of lupus; and PRV-101 for the prevention of acute coxsackie virus B (CVB), and the prevention of type 1 diabetes (T1D) onset.
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