Provention Bio (NASDAQ:PRVB) Price Target Cut to $25.00

Provention Bio (NASDAQ:PRVBGet Rating) had its price objective lowered by Chardan Capital from $30.00 to $25.00 in a report published on Monday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other analysts have also recently weighed in on PRVB. HC Wainwright reduced their target price on shares of Provention Bio from $18.00 to $16.00 and set a buy rating on the stock in a report on Wednesday, February 15th. Jefferies Financial Group raised their target price on shares of Provention Bio from $18.00 to $22.00 and gave the company a buy rating in a report on Friday, November 18th. SVB Leerink raised their target price on shares of Provention Bio from $16.00 to $19.00 and gave the company an outperform rating in a report on Monday, November 21st. Oppenheimer raised their target price on shares of Provention Bio from $14.00 to $18.00 and gave the company an outperform rating in a report on Friday, November 18th. Finally, Cantor Fitzgerald cut shares of Provention Bio from an overweight rating to a neutral rating in a report on Monday. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $20.00.

Provention Bio Stock Up 259.7 %

Shares of PRVB opened at $24.10 on Monday. The stock has a market capitalization of $2.10 billion, a PE ratio of -15.45 and a beta of 2.18. Provention Bio has a 1 year low of $3.18 and a 1 year high of $24.23. 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 company’s 50-day simple moving average is $9.25 and its 200-day simple moving average is $7.90.

Insider Buying and Selling at Provention Bio

In other Provention Bio news, insider Francisco Leon sold 10,674 shares of the stock in a transaction that occurred on 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 directly owns 1,573,000 shares in the company, valued at $15,730,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Provention Bio news, insider Francisco Leon sold 10,674 shares of the stock in a transaction that occurred on 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 directly owns 1,573,000 shares in the company, valued at $15,730,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Sessa Capital (Master), L.P. sold 3,000,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 18th. The stock was sold at an average price of $9.40, for a total transaction of $28,200,000.00. Following the transaction, the insider now owns 11,879,023 shares in the company, valued at $111,662,816.20. The disclosure for this sale can be found here. Insiders have sold 3,352,549 shares of company stock worth $31,794,691 over the last three months. Insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Provention Bio

A number of hedge funds have recently modified their holdings of PRVB. PNC Financial Services Group Inc. grew its position in shares of Provention Bio by 320.0% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,625 shares of the company’s stock worth $28,000 after acquiring an additional 2,000 shares during the last quarter. Dorsey Wright & Associates purchased a new position in shares of Provention Bio during the fourth quarter worth approximately $31,000. Royal Bank of Canada grew its position in shares of Provention Bio by 166.5% during the third quarter. Royal Bank of Canada now owns 7,769 shares of the company’s stock worth $35,000 after acquiring an additional 4,854 shares during the last quarter. OLD Mission Capital LLC purchased a new position in shares of Provention Bio during the second quarter worth approximately $41,000. Finally, Cantor Fitzgerald L. P. purchased a new position in shares of Provention Bio during the third quarter worth approximately $45,000. 37.39% of the stock is currently owned by hedge funds and other institutional investors.

Provention Bio Company 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.

Further Reading

Analyst Recommendations for Provention Bio (NASDAQ:PRVB)

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