Provention Bio (NASDAQ:PRVB) Lowered to Neutral at Cantor Fitzgerald

Provention Bio (NASDAQ:PRVB – Get Rating) was downgraded by stock analysts at Cantor Fitzgerald from an “overweight” rating to a “neutral” rating in a report released on Monday, The Fly reports.

Other analysts have also recently issued research reports about the stock. Oppenheimer raised their price objective on shares of Provention Bio from $14.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, November 18th. Jefferies Financial Group increased their price objective on Provention Bio from $18.00 to $22.00 and gave the company a “buy” rating in a research report on Friday, November 18th. Chardan Capital boosted their target price on Provention Bio from $24.00 to $30.00 and gave the stock a “buy” rating in a research report on Friday, November 18th. HC Wainwright reduced their price target on shares of Provention Bio from $18.00 to $16.00 and set a “buy” rating on the stock in a research report on Wednesday, February 15th. Finally, SVB Leerink upped their price objective on shares of Provention Bio from $16.00 to $19.00 and gave the company an “outperform” rating in a research note on Monday, November 21st. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $20.00.

Provention Bio Stock Down 0.5 %

Shares of NASDAQ PRVB opened at $23.97 on Monday. Provention Bio has a 12 month low of $3.18 and a 12 month high of $24.23. 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 $2.09 billion, a price-to-earnings ratio of -15.37 and a beta of 2.18. The business has a 50-day moving average of $9.53 and a 200-day moving average of $8.04.

Insider Activity

In other news, insider Francisco Leon sold 25,985 shares of the firm’s stock in a transaction that occurred on Monday, February 13th. The shares were sold at an average price of $10.04, for a total value of $260,889.40. Following the transaction, the insider now owns 1,573,000 shares in the company, valued at $15,792,920. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, 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 transaction, the insider now directly owns 11,879,023 shares of the company’s stock, valued at $111,662,816.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Francisco Leon sold 25,985 shares of Provention Bio stock in a transaction that occurred on Monday, February 13th. The stock was sold at an average price of $10.04, for a total value of $260,889.40. Following the completion of the sale, the insider now owns 1,573,000 shares in the company, valued at $15,792,920. The disclosure for this sale can be found here. In the last quarter, insiders sold 3,352,549 shares of company stock valued at $31,794,691. Insiders own 13.10% of the company’s stock.

Institutional Investors Weigh In On Provention Bio

A number of large investors have recently made changes to their positions in the business. PNC Financial Services Group Inc. raised its holdings in Provention Bio by 320.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,625 shares of the company’s stock worth $28,000 after purchasing an additional 2,000 shares in the last quarter. Dorsey Wright & Associates bought a new stake in Provention Bio during the 4th quarter valued at approximately $31,000. Royal Bank of Canada raised its holdings in Provention Bio by 166.5% in the third quarter. Royal Bank of Canada now owns 7,769 shares of the company’s stock worth $35,000 after purchasing an additional 4,854 shares in the last quarter. OLD Mission Capital LLC bought a new position in Provention Bio in the second quarter worth $41,000. Finally, Cantor Fitzgerald L. P. bought a new stake in Provention Bio during the third quarter worth about $45,000. 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.