Provention Bio (NASDAQ:PRVB) Trading Up 5.4% on Analyst Upgrade

Provention Bio, Inc. (NASDAQ:PRVBGet Rating)’s stock price traded up 5.4% on Tuesday after SVB Leerink raised their price target on the stock from $16.00 to $19.00. SVB Leerink currently has an outperform rating on the stock. Provention Bio traded as high as $8.37 and last traded at $8.19. 43,988 shares were traded during trading, a decline of 98% from the average session volume of 2,727,475 shares. The stock had previously closed at $7.77.

A number of other brokerages have also recently issued reports on PRVB. Oppenheimer upped their price objective on shares of Provention Bio from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 18th. Chardan Capital upped their price target on Provention Bio from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. Finally, Jefferies Financial Group raised their price objective on Provention Bio from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, November 18th. Eight analysts have rated the stock with a buy rating, According to MarketBeat, Provention Bio has a consensus rating of “Buy” and an average target price of $21.40.

Institutional Investors Weigh In On Provention Bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallax Volatility Advisers L.P. grew its holdings in Provention Bio by 8.9% during the 3rd quarter. Parallax Volatility Advisers L.P. now owns 16,122 shares of the company’s stock worth $73,000 after acquiring an additional 1,322 shares during the period. Commonwealth Equity Services LLC lifted its holdings in shares of Provention Bio by 9.5% during the 3rd quarter. Commonwealth Equity Services LLC now owns 16,998 shares of the company’s stock valued at $76,000 after purchasing an additional 1,469 shares in the last quarter. ProShare Advisors LLC raised its holdings in Provention Bio by 18.5% during the 3rd quarter. ProShare Advisors LLC now owns 13,357 shares of the company’s stock worth $61,000 after buying an additional 2,082 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in shares of Provention Bio by 2.4% in the third quarter. Cubist Systematic Strategies LLC now owns 97,926 shares of the company’s stock valued at $441,000 after buying an additional 2,326 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its position in shares of Provention Bio by 1.8% during the first quarter. Charles Schwab Investment Management Inc. now owns 146,063 shares of the company’s stock worth $1,070,000 after buying an additional 2,537 shares during the period. Institutional investors and hedge funds own 37.39% of the company’s stock.

Provention Bio Stock Up 14.4 %

The firm’s 50 day moving average price is $6.48 and its two-hundred day moving average price is $5.07. The company has a current ratio of 7.58, a quick ratio of 7.58 and a debt-to-equity ratio of 0.16. The company has a market capitalization of $775.13 million, a P/E ratio of -5.70 and a beta of 2.36.

About Provention Bio

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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-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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