HC Wainwright restated their buy rating on shares of Provention Bio (NASDAQ:PRVB) in a report released on Tuesday, TipRanks reports. HC Wainwright currently has a $25.00 price target on the stock.
PRVB has been the subject of several other research reports. SVB Leerink reiterated a buy rating and issued a $16.00 price objective on shares of Provention Bio in a report on Monday, May 31st. Chardan Capital reissued a buy rating on shares of Provention Bio in a report on Thursday, July 1st. Royal Bank of Canada reissued a hold rating and issued a $8.00 target price on shares of Provention Bio in a report on Sunday, July 11th. Finally, Oppenheimer reduced their target price on Provention Bio from $18.00 to $16.00 and set an outperform rating for the company in a report on Friday, August 6th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of Buy and a consensus target price of $17.75.
PRVB opened at $6.22 on Tuesday. The company has a 50 day moving average of $6.33 and a 200 day moving average of $8.19. The company has a market cap of $394.19 million, a PE ratio of -3.00 and a beta of 3.01. Provention Bio has a 12 month low of $5.59 and a 12 month high of $20.05.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Nisa Investment Advisors LLC acquired a new stake in Provention Bio during the second quarter valued at $43,000. Royal Bank of Canada lifted its stake in shares of Provention Bio by 407.1% in the first quarter. Royal Bank of Canada now owns 4,508 shares of the company’s stock worth $48,000 after buying an additional 3,619 shares in the last quarter. US Bancorp DE raised its stake in Provention Bio by 66.7% during the first quarter. US Bancorp DE now owns 5,000 shares of the company’s stock worth $52,000 after purchasing an additional 2,000 shares during the period. Invst LLC purchased a new position in shares of Provention Bio during the 2nd quarter worth approximately $72,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Provention Bio by 58.5% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 7,906 shares of the company’s stock valued at $83,000 after buying an additional 2,918 shares in the last quarter. 36.87% of the stock is owned by institutional investors and hedge funds.
Provention Bio Company 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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