Provention Bio Inc (NASDAQ:PRVB)’s share price was up 5.1% during trading on Monday . The stock traded as high as $9.89 and last traded at $9.70, approximately 399,079 shares were traded during mid-day trading. A decline of 5% from the average daily volume of 420,029 shares. The stock had previously closed at $9.23.
Several equities analysts have commented on PRVB shares. HC Wainwright reiterated a “buy” rating and issued a $20.00 target price (up from $8.00) on shares of Provention Bio in a research report on Wednesday, June 26th. Chardan Capital started coverage on Provention Bio in a research note on Monday, June 10th. They issued a “buy” rating and a $20.00 price target for the company. Leerink Swann increased their price target on Provention Bio from $17.00 to $35.00 and gave the company an “outperform” rating in a research note on Monday, August 5th. Finally, Zacks Investment Research cut Provention Bio from a “buy” rating to a “hold” rating in a research note on Thursday, May 16th. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $16.75.
The company has a market cap of $366.23 million and a price-to-earnings ratio of -8.15. The firm has a 50 day moving average price of $10.81 and a two-hundred day moving average price of $5.88.
In other Provention Bio news, Director Anthony Digiandomenico bought 25,000 shares of the firm’s stock in a transaction that occurred on Monday, June 17th. The stock was acquired at an average price of $12.16 per share, with a total value of $304,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Ashleigh Palmer bought 4,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 18th. The shares were acquired at an average cost of $10.83 per share, with a total value of $43,320.00. The disclosure for this purchase can be found here. In the last three months, insiders bought 59,600 shares of company stock valued at $644,810. Insiders own 19.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Susquehanna International Group LLP bought a new stake in shares of Provention Bio in the 2nd quarter valued at about $311,000. Morgan Stanley lifted its stake in shares of Provention Bio by 15,450.0% in the 2nd quarter. Morgan Stanley now owns 7,775 shares of the company’s stock valued at $94,000 after acquiring an additional 7,725 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Provention Bio by 80.6% in the 2nd quarter. Vanguard Group Inc. now owns 879,001 shares of the company’s stock valued at $10,636,000 after acquiring an additional 392,383 shares during the last quarter. Lido Advisors LLC lifted its stake in shares of Provention Bio by 10.3% in the 2nd quarter. Lido Advisors LLC now owns 29,550 shares of the company’s stock valued at $357,000 after acquiring an additional 2,750 shares during the last quarter. Finally, Eversept Partners LP bought a new stake in shares of Provention Bio in the 2nd quarter valued at about $891,000. 3.27% of the stock is owned by institutional investors and hedge funds.
Provention Bio Company Profile (NASDAQ:PRVB)
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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