SG Americas Securities LLC purchased a new position in Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 10,354 shares of the company’s stock, valued at approximately $109,000.
Other hedge funds have also recently added to or reduced their stakes in the company. Cabot Wealth Management Inc. acquired a new position in Provention Bio in the fourth quarter worth $1,948,000. Bioimpact Capital LLC boosted its holdings in Provention Bio by 25.0% in the third quarter. Bioimpact Capital LLC now owns 740,344 shares of the company’s stock worth $3,332,000 after purchasing an additional 147,909 shares during the period. Parallax Volatility Advisers L.P. boosted its holdings in Provention Bio by 8.9% in the third quarter. Parallax Volatility Advisers L.P. now owns 16,122 shares of the company’s stock worth $73,000 after purchasing an additional 1,322 shares during the period. Raymond James & Associates boosted its holdings in Provention Bio by 44.1% in the third quarter. Raymond James & Associates now owns 18,482 shares of the company’s stock worth $83,000 after purchasing an additional 5,652 shares during the period. Finally, Royal Bank of Canada boosted its holdings in Provention Bio by 166.5% in the third quarter. Royal Bank of Canada now owns 7,769 shares of the company’s stock worth $35,000 after purchasing an additional 4,854 shares during the period. Institutional investors and hedge funds own 37.39% of the company’s stock.
Provention Bio Stock Performance
PRVB stock opened at $24.98 on Wednesday. The company has a market capitalization of $2.37 billion, a P/E ratio of -16.33 and a beta of 2.47. The company has a 50-day simple moving average of $23.38 and a 200 day simple moving average of $14.04. Provention Bio, Inc. has a fifty-two week low of $3.18 and a fifty-two week high of $25.00. The company has a quick ratio of 1.92, a current ratio of 1.93 and a debt-to-equity ratio of 0.19.
Insider Buying and Selling at Provention Bio
In other Provention Bio news, major shareholder Sessa Capital (Master), L.P. sold 2,190,549 shares of Provention Bio stock in a transaction that occurred on Friday, April 14th. The stock was sold at an average price of $24.32, for a total transaction of $53,274,151.68. Following the sale, the insider now directly owns 15,567,497 shares of the company’s stock, valued at $378,601,527.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 13.10% of the company’s stock.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on PRVB shares. Cantor Fitzgerald downgraded shares of Provention Bio from an “overweight” rating to a “neutral” rating in a report on Monday, March 13th. HC Wainwright downgraded shares of Provention Bio from a “buy” rating to a “neutral” rating and boosted their price target for the company from $16.00 to $25.00 in a report on Wednesday, March 15th. Jefferies Financial Group downgraded shares of Provention Bio from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a report on Tuesday, March 14th. Chardan Capital reduced their price target on shares of Provention Bio from $30.00 to $25.00 and set a “buy” rating for the company in a report on Monday, March 13th. Finally, Sumitomo Mitsui Financial Group reissued a “neutral” rating and set a $25.00 price target (up previously from $15.00) on shares of Provention Bio in a report on Tuesday, March 14th. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $22.83.
Provention Bio Profile
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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