Provention Bio, Inc. (NASDAQ:PRVB) Shares Bought by Raymond James Financial Services Advisors Inc.

Raymond James Financial Services Advisors Inc. raised its stake in Provention Bio, Inc. (NASDAQ:PRVB) by 22.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,139 shares of the company’s stock after acquiring an additional 5,990 shares during the period. Raymond James Financial Services Advisors Inc. owned 0.06% of Provention Bio worth $561,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its stake in Provention Bio by 18.4% in the fourth quarter. BlackRock Inc. now owns 3,925,489 shares of the company’s stock valued at $66,498,000 after acquiring an additional 611,338 shares in the last quarter. State Street Corp boosted its stake in Provention Bio by 19.4% in the third quarter. State Street Corp now owns 1,033,239 shares of the company’s stock valued at $13,256,000 after acquiring an additional 167,640 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in Provention Bio by 207.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 314,540 shares of the company’s stock valued at $4,036,000 after acquiring an additional 212,320 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in Provention Bio by 3.0% in the fourth quarter. Bank of New York Mellon Corp now owns 176,639 shares of the company’s stock valued at $2,992,000 after acquiring an additional 5,123 shares in the last quarter. Finally, Truist Financial Corp boosted its stake in Provention Bio by 8.8% in the third quarter. Truist Financial Corp now owns 124,000 shares of the company’s stock valued at $1,591,000 after acquiring an additional 10,000 shares in the last quarter. Institutional investors own 39.42% of the company’s stock.

NASDAQ PRVB opened at $9.97 on Thursday. The stock has a market capitalization of $631.85 million, a P/E ratio of -6.69 and a beta of 3.34. Provention Bio, Inc. has a 52-week low of $8.35 and a 52-week high of $20.05. The firm has a 50-day moving average price of $12.49 and a 200 day moving average price of $14.39.

Provention Bio (NASDAQ:PRVB) last issued its earnings results on Wednesday, February 24th. The company reported ($0.58) earnings per share for the quarter, missing the consensus estimate of ($0.50) by ($0.08). On average, equities research analysts predict that Provention Bio, Inc. will post -1.77 earnings per share for the current year.

PRVB has been the subject of several research analyst reports. Zacks Investment Research downgraded shares of Provention Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, March 9th. Chardan Capital reduced their target price on shares of Provention Bio from $40.00 to $35.00 and set a “buy” rating for the company in a report on Thursday, February 25th. Finally, HC Wainwright upped their target price on shares of Provention Bio from $26.00 to $34.00 and gave the company a “buy” rating in a report on Monday, March 1st. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average price target of $27.80.

About Provention Bio

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics and 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, an oral CSF-1R inhibitor, which has completed Phase IIa clinical trial for the treatment of Crohn's disease; PRV-3279, which has completed Phase Ib clinical trial for the treatment of lupus; PRV-101, a coxsackie virus B (CVB) vaccine for the prevention of acute CVB infections and onset of T1D; and PRV-015, which is in phase IIb clinical trial for the treatment of gluten-free diet non-responding celiac disease.

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Institutional Ownership by Quarter for Provention Bio (NASDAQ:PRVB)

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