Privia Health Group (NASDAQ:PRVA) Trading Down 5.2% – Here’s What Happened

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) traded down 5.2% during trading on Tuesday . The company traded as low as $20.53 and last traded at $20.74. 139,032 shares changed hands during mid-day trading, a decline of 83% from the average session volume of 834,722 shares. The stock had previously closed at $21.87.

Analyst Upgrades and Downgrades

PRVA has been the topic of several research reports. JPMorgan Chase & Co. upped their price objective on shares of Privia Health Group from $27.00 to $28.00 and gave the company an “overweight” rating in a report on Friday, November 29th. Macquarie began coverage on Privia Health Group in a research note on Monday. They issued an “outperform” rating and a $25.00 price target for the company. Truist Financial increased their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the stock a “buy” rating in a research report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. Finally, KeyCorp assumed coverage on Privia Health Group in a research note on Friday, October 11th. They set an “overweight” rating and a $23.00 target price for the company. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $24.80.

Privia Health Group Stock Performance

The company’s 50 day moving average price is $20.19 and its 200-day moving average price is $19.11. The stock has a market cap of $2.42 billion, a P/E ratio of 201.32, a price-to-earnings-growth ratio of 5.45 and a beta of 0.83.

Institutional Investors Weigh In On Privia Health Group

Institutional investors have recently made changes to their positions in the stock. Millennium Management LLC boosted its holdings in Privia Health Group by 2,994.2% in the 2nd quarter. Millennium Management LLC now owns 1,138,526 shares of the company’s stock valued at $19,788,000 after purchasing an additional 1,101,730 shares during the period. Eventide Asset Management LLC grew its position in Privia Health Group by 979.2% during the third quarter. Eventide Asset Management LLC now owns 822,438 shares of the company’s stock worth $14,977,000 after buying an additional 746,231 shares in the last quarter. Icon Wealth Advisors LLC increased its stake in Privia Health Group by 1,910.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 300,889 shares of the company’s stock worth $5,479,000 after acquiring an additional 285,920 shares during the last quarter. FMR LLC raised its holdings in shares of Privia Health Group by 1.5% in the 3rd quarter. FMR LLC now owns 18,169,043 shares of the company’s stock valued at $330,858,000 after acquiring an additional 271,645 shares in the last quarter. Finally, BlackBarn Capital Partners LP boosted its position in shares of Privia Health Group by 100.0% during the 2nd quarter. BlackBarn Capital Partners LP now owns 400,000 shares of the company’s stock valued at $6,952,000 after acquiring an additional 200,000 shares during the last quarter. Hedge funds and other institutional investors own 94.48% of the company’s stock.

Privia Health Group Company Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.