Provention Bio (NASDAQ:PRVB) Sets New 52-Week High at $24.24

Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) hit a new 52-week high during trading on Monday . The stock traded as high as $24.24 and last traded at $24.24, with a volume of 2658813 shares. The stock had previously closed at $6.70.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PRVB shares. SVB Leerink increased their price target on Provention Bio from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, November 21st. Oppenheimer increased their price target on shares of Provention Bio from $14.00 to $18.00 and gave the company an “outperform” rating in a report on Friday, November 18th. Chardan Capital decreased their target price on Provention Bio from $30.00 to $25.00 and set a “buy” rating on the stock in a research report on Monday. HC Wainwright reduced their price target on Provention Bio from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, February 15th. Finally, Jefferies Financial Group cut shares of Provention Bio from a “buy” rating to a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Provention Bio has a consensus rating of “Moderate Buy” and a consensus price target of $20.00.

Provention Bio Stock Down 0.5 %

The company has a quick ratio of 7.58, a current ratio of 7.58 and a debt-to-equity ratio of 0.16. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of -15.37 and a beta of 2.18. The firm has a 50 day moving average of $9.53 and a two-hundred day moving average of $8.04.

Insider Activity at Provention Bio

In related news, CEO Ashleigh Palmer sold 24,165 shares of the stock in a transaction that occurred on Wednesday, January 18th. The shares were sold at an average price of $10.27, for a total value of $248,174.55. Following the completion of the transaction, the chief executive officer now owns 2,570,050 shares of the company’s stock, valued at approximately $26,394,413.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Provention Bio news, CEO Ashleigh Palmer sold 24,165 shares of the company’s stock in a transaction dated Wednesday, January 18th. The stock was sold at an average price of $10.27, for a total value of $248,174.55. Following the completion of the transaction, the chief executive officer now owns 2,570,050 shares of the company’s stock, valued at approximately $26,394,413.50. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Francisco Leon sold 187,000 shares of the stock in a transaction dated Thursday, December 29th. The shares were sold at an average price of $10.26, for a total value of $1,918,620.00. Following the completion of the transaction, the insider now owns 1,573,000 shares of the company’s stock, valued at $16,138,980. The disclosure for this sale can be found here. In the last three months, insiders have sold 3,352,549 shares of company stock valued at $31,794,691. 13.10% of the stock is owned by insiders.

Institutional Investors Weigh In On Provention Bio

A number of institutional investors have recently added to or reduced their stakes in PRVB. Swiss National Bank lifted its holdings in shares of Provention Bio by 7.3% during the first quarter. Swiss National Bank now owns 112,400 shares of the company’s stock worth $823,000 after purchasing an additional 7,600 shares during the period. JPMorgan Chase & Co. lifted its holdings in Provention Bio by 22.0% during the 1st quarter. JPMorgan Chase & Co. now owns 34,859 shares of the company’s stock worth $255,000 after buying an additional 6,280 shares during the period. HighTower Advisors LLC acquired a new stake in shares of Provention Bio in the first quarter valued at about $174,000. Private Advisor Group LLC bought a new position in shares of Provention Bio during the first quarter worth about $129,000. Finally, MetLife Investment Management LLC lifted its stake in shares of Provention Bio by 337.3% in the first quarter. MetLife Investment Management LLC now owns 32,416 shares of the company’s stock worth $237,000 after acquiring an additional 25,003 shares during the period. 37.39% of the stock is owned by institutional investors.

About Provention Bio

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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.