SG Americas Securities LLC Purchases New Position in Provention Bio, Inc. (NASDAQ:PRVB)

SG Americas Securities LLC acquired a new position in shares of Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 10,354 shares of the company’s stock, valued at approximately $109,000.

Several other large investors also recently bought and sold shares of the company. Royal Bank of Canada lifted 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 valued at $35,000 after acquiring an additional 4,854 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new position in shares of Provention Bio during the third quarter worth about $45,000. Prelude Capital Management LLC acquired a new stake in shares of Provention Bio during the second quarter worth about $48,000. Parallax Volatility Advisers L.P. acquired a new stake in shares of Provention Bio during the second quarter worth about $59,000. Finally, Principal Financial Group Inc. acquired a new stake in shares of Provention Bio during the second quarter worth about $60,000. 37.39% of the stock is currently owned by hedge funds and other institutional investors.

Provention Bio Stock Performance

Shares of Provention Bio stock opened at $24.98 on Wednesday. The firm has a market cap of $2.37 billion, a price-to-earnings ratio of -16.33 and a beta of 2.47. The stock’s 50-day moving average is $23.38 and its 200-day moving average is $14.04. Provention Bio, Inc. has a one year low of $3.18 and a one year high of $25.00. The company has a debt-to-equity ratio of 0.19, a current ratio of 1.93 and a quick ratio of 1.92.

Provention Bio (NASDAQ:PRVB – Get Rating) last released its quarterly earnings data on Wednesday, March 29th. The company reported ($0.38) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.31) by ($0.07). Provention Bio had a negative net margin of 880.69% and a negative return on equity of 103.36%. The business had revenue of $10.81 million during the quarter, compared to the consensus estimate of $7.23 million. Equities analysts predict that Provention Bio, Inc. will post -1.72 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on PRVB. HC Wainwright downgraded shares of Provention Bio from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $25.00 in a research report on Wednesday, March 15th. Cantor Fitzgerald downgraded Provention Bio from an “overweight” rating to a “neutral” rating in a research report on Monday, March 13th. Chardan Capital reduced their price objective on Provention Bio from $30.00 to $25.00 and set a “buy” rating on the stock in a research note on Monday, March 13th. Jefferies Financial Group lowered Provention Bio from a “buy” rating to a “hold” rating and set a $25.00 price objective on the stock. in a research note on Tuesday, March 14th. Finally, Sumitomo Mitsui Financial Group reissued a “neutral” rating and set a $25.00 price target (up from $15.00) on shares of Provention Bio in a research report on Tuesday, March 14th. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $22.83.

Insider Buying and Selling at Provention Bio

In related news, major shareholder Sessa Capital (Master), L.P. sold 2,190,549 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider now directly owns 15,567,497 shares of the company’s stock, valued at approximately $378,601,527.04. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 13.10% of the company’s stock.

Provention Bio Profile

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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.