Parallax Volatility Advisers L.P. Buys 1,322 Shares of Provention Bio, Inc. (NASDAQ:PRVB)

Parallax Volatility Advisers L.P. grew its holdings in shares of Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) by 8.9% in the third quarter, HoldingsChannel.com reports. The fund owned 16,122 shares of the company’s stock after acquiring an additional 1,322 shares during the quarter. Parallax Volatility Advisers L.P.’s holdings in Provention Bio were worth $73,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of PRVB. Bioimpact Capital LLC acquired a new stake in Provention Bio during the 2nd quarter worth about $2,370,000. BlackRock Inc. grew its holdings in Provention Bio by 9.2% during the 3rd quarter. BlackRock Inc. now owns 5,030,348 shares of the company’s stock worth $22,637,000 after acquiring an additional 424,311 shares during the period. Invesco Ltd. grew its holdings in Provention Bio by 967.2% during the 1st quarter. Invesco Ltd. now owns 226,708 shares of the company’s stock worth $1,659,000 after acquiring an additional 205,464 shares during the period. Renaissance Technologies LLC acquired a new stake in Provention Bio during the 2nd quarter worth about $667,000. Finally, DG Capital Management LLC grew its holdings in Provention Bio by 19.1% during the 2nd quarter. DG Capital Management LLC now owns 622,568 shares of the company’s stock worth $2,490,000 after acquiring an additional 100,000 shares during the period. 37.39% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Provention Bio

In related news, insider Francisco Leon sold 10,674 shares of the firm’s stock in a transaction dated Tuesday, December 27th. The shares were sold at an average price of $10.00, for a total value of $106,740.00. Following the transaction, the insider now owns 1,573,000 shares of the company’s stock, valued at approximately $15,730,000. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Provention Bio news, CEO Ashleigh Palmer sold 24,165 shares of Provention Bio stock in a transaction that occurred on 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 owns 2,570,050 shares of the company’s stock, valued at approximately $26,394,413.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Francisco Leon sold 10,674 shares of Provention Bio stock in a transaction that occurred on Tuesday, December 27th. The stock was sold at an average price of $10.00, for a total transaction of $106,740.00. Following the transaction, the insider now directly owns 1,573,000 shares in the company, valued at approximately $15,730,000. The disclosure for this sale can be found here. In the last quarter, insiders have sold 3,352,549 shares of company stock valued at $31,794,691. 13.10% of the stock is owned by corporate insiders.

Provention Bio Price Performance

Shares of NASDAQ PRVB opened at $24.10 on Tuesday. Provention Bio, Inc. has a fifty-two week low of $3.18 and a fifty-two week high of $24.23. The stock has a market cap of $2.10 billion, a price-to-earnings ratio of -15.45 and a beta of 2.18. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.58 and a current ratio of 7.58. The firm’s 50-day simple moving average is $9.25 and its 200 day simple moving average is $7.90.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Cantor Fitzgerald downgraded Provention Bio from an “overweight” rating to a “neutral” rating in a report on Monday. Jefferies Financial Group raised their target price on Provention Bio from $18.00 to $22.00 and gave the company a “buy” rating in a research note on Friday, November 18th. HC Wainwright reduced their target price on Provention Bio from $18.00 to $16.00 and set a “buy” rating for the company in a research note on Wednesday, February 15th. SVB Leerink raised their target price on Provention Bio from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, November 21st. Finally, Oppenheimer raised their target price on Provention Bio from $14.00 to $18.00 and gave the company an “outperform” rating in a research note on Friday, November 18th. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, Provention Bio has a consensus rating of “Moderate Buy” and an average price target of $20.00.

Provention Bio Profile

(Get Rating)

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.