Provention Bio, Inc. (NASDAQ:PRVB) CEO Ashleigh Palmer Sells 24,165 Shares

Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) CEO Ashleigh Palmer sold 24,165 shares of the business’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $10.27, for a total transaction of $248,174.55. Following the transaction, the chief executive officer now directly owns 2,570,050 shares of the company’s stock, valued at $26,394,413.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Provention Bio Stock Up 1.7 %

PRVB stock opened at $9.04 on Friday. Provention Bio, Inc. has a 52 week low of $3.18 and a 52 week high of $10.88. The company has a market capitalization of $788.21 million, a price-to-earnings ratio of -5.79 and a beta of 2.29. The firm’s 50-day moving average is $9.30 and its two-hundred day moving average is $6.70. The company has a current ratio of 7.58, a quick ratio of 7.58 and a debt-to-equity ratio of 0.16.

Provention Bio (NASDAQ:PRVB – Get Rating) last released its earnings results on Thursday, November 3rd. The company reported ($0.34) EPS for the quarter, topping analysts’ consensus estimates of ($0.46) by $0.12. Provention Bio had a negative net margin of 3,791.21% and a negative return on equity of 99.08%. The business had revenue of $0.76 million for the quarter, compared to the consensus estimate of $0.88 million. On average, analysts forecast that Provention Bio, Inc. will post -1.66 earnings per share for the current fiscal year.

Institutional Trading of Provention Bio

A number of hedge funds and other institutional investors have recently made changes to their positions in PRVB. Vanguard Group Inc. raised its holdings in shares of Provention Bio by 39.9% in the 3rd quarter. Vanguard Group Inc. now owns 3,604,065 shares of the company’s stock worth $16,219,000 after purchasing an additional 1,027,113 shares in the last quarter. Bioimpact Capital LLC bought a new stake in shares of Provention Bio in the 2nd quarter worth approximately $2,370,000. BlackRock Inc. raised its holdings in shares of Provention Bio by 9.2% in the 3rd quarter. BlackRock Inc. now owns 5,030,348 shares of the company’s stock worth $22,637,000 after purchasing an additional 424,311 shares in the last quarter. Palo Alto Investors LP bought a new stake in shares of Provention Bio in the 3rd quarter worth approximately $1,759,000. Finally, Invesco Ltd. raised its holdings in shares of Provention Bio by 967.2% in the 1st quarter. Invesco Ltd. now owns 226,708 shares of the company’s stock worth $1,659,000 after purchasing an additional 205,464 shares in the last quarter. 37.39% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Chardan Capital boosted their target price on shares of Provention Bio from $24.00 to $30.00 and gave the company a “buy” rating in a research note on Friday, November 18th. Oppenheimer boosted their target price on shares of Provention Bio from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, November 18th. Jefferies Financial Group boosted their price target on shares of Provention Bio from $18.00 to $22.00 and gave the stock a “buy” rating in a research report on Friday, November 18th. Finally, SVB Leerink boosted their price target on shares of Provention Bio from $16.00 to $19.00 and gave the stock an “outperform” rating in a research report on Monday, November 21st. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Provention Bio has an average rating of “Buy” and a consensus price target of $21.40.

Provention Bio Company 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.