Provention Bio (PRVB) Downgraded by Zacks Investment Research to “Hold”

Zacks Investment Research cut shares of Provention Bio (NASDAQ:PRVB) from a buy rating to a hold rating in a research report sent to investors on Thursday morning, Zacks.com reports.

According to Zacks, “Provention Bio, Inc. is a biopharmaceutical company. It focuses on development of novel therapeutics and solutions to intercept and prevent immune-mediated disease. The company’s product pipeline consists of PRV-031, PRV-6527, PRV-300, PRV-3279 and PRV-101 which are in clinical stage. Provention Bio, Inc. is based in NJ, United States. “

PRVB has been the topic of a number of other research reports. HC Wainwright reiterated a buy rating and issued a $8.00 price objective on shares of Provention Bio in a research report on Tuesday, January 29th. Leerink Swann assumed coverage on Provention Bio in a research report on Friday, February 22nd. They issued an outperform rating on the stock. Finally, Svb Leerink assumed coverage on Provention Bio in a research report on Friday, February 22nd. They issued an outperform rating and a $6.00 price objective on the stock.

NASDAQ:PRVB opened at $3.90 on Thursday. Provention Bio has a 1 year low of $1.52 and a 1 year high of $8.00.

Provention Bio (NASDAQ:PRVB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.18) by ($0.11). Sell-side analysts predict that Provention Bio will post -1.11 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Silverleafe Capital Partners LLC bought a new position in Provention Bio in the first quarter valued at $46,000. Lido Advisors LLC bought a new position in Provention Bio in the fourth quarter valued at $47,000. Alambic Investment Management L.P. bought a new position in Provention Bio in the fourth quarter valued at $29,000. BlackRock Inc. increased its stake in Provention Bio by 26.4% in the fourth quarter. BlackRock Inc. now owns 26,235 shares of the company’s stock valued at $46,000 after acquiring an additional 5,472 shares during the last quarter. Finally, Vanguard Group Inc bought a new position in Provention Bio in the third quarter valued at $2,859,000. 1.76% of the stock is currently owned by institutional investors and hedge funds.

About Provention Bio

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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