Sessa Capital (Master), L.P. Sells 3,000,000 Shares of Provention Bio, Inc. (NASDAQ:PRVB) Stock

Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) major shareholder Sessa Capital (Master), L.P. sold 3,000,000 shares of the company’s stock in a transaction dated Wednesday, January 18th. The shares were sold at an average price of $9.40, for a total transaction of $28,200,000.00. Following the completion of the sale, the insider now owns 11,879,023 shares in the company, valued at approximately $111,662,816.20. The sale was disclosed in a filing with the SEC, which is accessible through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

Provention Bio Price Performance

Shares of NASDAQ:PRVB opened at $9.04 on Friday. 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. The firm has a market capitalization of $788.21 million, a P/E ratio of -5.79 and a beta of 2.29. Provention Bio, Inc. has a 52 week low of $3.18 and a 52 week high of $10.88.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on PRVB shares. Chardan Capital increased their price objective on shares of Provention Bio from $24.00 to $30.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. Jefferies Financial Group increased their price objective on shares of Provention Bio from $18.00 to $22.00 and gave the stock a “buy” rating in a research note on Friday, November 18th. SVB Leerink increased their price objective on shares of Provention Bio from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, November 21st. Finally, Oppenheimer increased their price objective on shares of Provention Bio from $14.00 to $18.00 and gave the stock an “outperform” rating in a research note on Friday, November 18th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat, Provention Bio has a consensus rating of “Buy” and an average price target of $21.40.

Institutional Trading of Provention Bio

A number of large investors have recently added to or reduced their stakes in PRVB. Vanguard Group Inc. boosted its holdings in Provention Bio by 39.9% during the third quarter. Vanguard Group Inc. now owns 3,604,065 shares of the company’s stock worth $16,219,000 after buying an additional 1,027,113 shares in the last quarter. Bioimpact Capital LLC bought a new stake in Provention Bio during the second quarter worth approximately $2,370,000. BlackRock Inc. boosted its holdings in Provention Bio by 9.2% during the third quarter. BlackRock Inc. now owns 5,030,348 shares of the company’s stock worth $22,637,000 after buying an additional 424,311 shares in the last quarter. Palo Alto Investors LP bought a new stake in Provention Bio during the third quarter worth approximately $1,759,000. Finally, Invesco Ltd. boosted its holdings in Provention Bio by 967.2% during the first quarter. Invesco Ltd. now owns 226,708 shares of the company’s stock worth $1,659,000 after buying an additional 205,464 shares in the last quarter. 37.39% of the stock is currently owned by institutional investors.

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.