Provention Bio (NASDAQ:PRVB) Rating Reiterated by Sumitomo Mitsui Financial Group

Provention Bio (NASDAQ:PRVB – Get Rating)‘s stock had its “neutral” rating restated by research analysts at Sumitomo Mitsui Financial Group in a research note issued on Tuesday, Benzinga reports. They currently have a $25.00 target price on the stock, up from their prior target price of $15.00. Sumitomo Mitsui Financial Group’s price objective indicates a potential upside of 4.56% from the stock’s previous close.

Several other equities research analysts have also issued reports on the stock. HC Wainwright lowered shares of Provention Bio from a “buy” rating to a “neutral” rating and boosted their price target for the company from $16.00 to $25.00 in a report on Wednesday. SVB Leerink upped their target price on shares of Provention Bio from $16.00 to $19.00 and gave the stock an “outperform” rating in a report on Monday, November 21st. Oppenheimer upped their target price on shares of Provention Bio from $14.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, November 18th. Chardan Capital lowered their target price on shares of Provention Bio from $30.00 to $25.00 and set a “buy” rating on the stock in a report on Monday. Finally, Cantor Fitzgerald lowered shares of Provention Bio from an “overweight” rating to a “neutral” rating in a report on Monday. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.83.

Provention Bio Price Performance

NASDAQ:PRVB opened at $23.91 on Tuesday. The stock has a market cap of $2.08 billion, a P/E ratio of -15.33 and a beta of 2.18. Provention Bio has a one year low of $3.18 and a one year high of $24.23. The company has a fifty day moving average price of $9.82 and a 200 day moving average price of $8.15. The company has a debt-to-equity ratio of 0.16, a current ratio of 7.58 and a quick ratio of 7.58.

Insider Buying and Selling at Provention Bio

In other Provention Bio news, insider Francisco Leon sold 10,674 shares of the company’s stock in a transaction on Tuesday, December 27th. The shares were sold at an average price of $10.00, for a total transaction of $106,740.00. Following the completion of the sale, the insider now owns 1,573,000 shares in the company, valued at approximately $15,730,000. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, major shareholder Sessa Capital (Master), L.P. sold 3,000,000 shares of the business’s stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $9.40, for a total value of $28,200,000.00. Following the completion of the transaction, the insider now owns 11,879,023 shares of the company’s stock, valued at approximately $111,662,816.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Francisco Leon sold 10,674 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now directly owns 1,573,000 shares of the company’s stock, valued at $15,730,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,352,549 shares of company stock worth $31,794,691. Insiders own 13.10% of the company’s stock.

Hedge Funds Weigh In On Provention Bio

A number of large investors have recently modified their holdings of PRVB. PNC Financial Services Group Inc. boosted its stake 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 valued at $28,000 after purchasing an additional 2,000 shares during the period. Dorsey Wright & Associates acquired a new position in Provention Bio in the 4th quarter worth about $31,000. Royal Bank of Canada increased its holdings in Provention Bio by 166.5% in the 3rd 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. Cantor Fitzgerald L. P. acquired a new position in Provention Bio in the 3rd quarter worth about $45,000. Finally, Citigroup Inc. increased its stake in shares of Provention Bio by 225.3% in the fourth quarter. Citigroup Inc. now owns 10,048 shares of the company’s stock valued at $106,000 after buying an additional 6,959 shares during the period. 37.39% of the stock is currently owned by institutional investors and hedge funds.

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.