Provention Bio (NASDAQ:PRVB) Reaches New 12-Month Low at $5.40

Provention Bio, Inc. (NASDAQ:PRVB) reached a new 52-week low during trading on Thursday . The company traded as low as $5.40 and last traded at $5.81, with a volume of 46290 shares traded. The stock had previously closed at $9.97.

PRVB has been the topic of a number of research analyst reports. HC Wainwright increased their price target on Provention Bio from $26.00 to $34.00 and gave the stock a “buy” rating in a research report on Monday, March 1st. Zacks Investment Research lowered Provention Bio from a “hold” rating to a “sell” rating in a research report on Tuesday, March 9th. Finally, Chardan Capital decreased their price objective on Provention Bio from $40.00 to $35.00 and set a “buy” rating on the stock in a research report on Thursday, February 25th. One analyst has rated the stock with a sell rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $27.80.

The stock has a market capitalization of $616.64 million, a P/E ratio of -3.69 and a beta of 3.34. The stock has a 50-day simple moving average of $12.49 and a 200 day simple moving average of $14.39.

Provention Bio (NASDAQ:PRVB) last posted its quarterly earnings results on Wednesday, February 24th. The company reported ($0.58) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.50) by ($0.08). As a group, equities analysts forecast that Provention Bio, Inc. will post -1.77 EPS for the current year.

Hedge funds have recently bought and sold shares of the company. Liberty One Investment Management LLC lifted its stake in shares of Provention Bio by 37.0% in the 4th quarter. Liberty One Investment Management LLC now owns 7,580 shares of the company’s stock valued at $128,000 after purchasing an additional 2,048 shares during the period. Raymond James & Associates raised its stake in Provention Bio by 52.9% during the 3rd quarter. Raymond James & Associates now owns 15,384 shares of the company’s stock worth $197,000 after buying an additional 5,320 shares during the period. JPMorgan Chase & Co. raised its stake in Provention Bio by 24.4% during the 3rd quarter. JPMorgan Chase & Co. now owns 17,744 shares of the company’s stock worth $226,000 after buying an additional 3,486 shares during the period. State Board of Administration of Florida Retirement System raised its stake in shares of Provention Bio by 5.6% in the 4th quarter. State Board of Administration of Florida Retirement System now owns 14,567 shares of the company’s stock valued at $247,000 after purchasing an additional 770 shares during the period. Finally, Citigroup Inc. raised its stake in shares of Provention Bio by 74.6% in the 4th quarter. Citigroup Inc. now owns 14,716 shares of the company’s stock valued at $249,000 after purchasing an additional 6,288 shares during the period. 39.42% of the stock is currently owned by institutional investors.

Provention Bio Company Profile (NASDAQ:PRVB)

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics and solutions to intercept and prevent immune-mediated diseases. Its products candidates include PRV-031 teplizumab and monoclonal antibodies (mAb) that is in Phase III clinical trial for the interception of type one diabetes (T1D); PRV-6527, an oral CSF-1R inhibitor, which has completed Phase IIa clinical trial for the treatment of Crohn's disease; PRV-3279, which has completed Phase Ib clinical trial for the treatment of lupus; PRV-101, a coxsackie virus B (CVB) vaccine for the prevention of acute CVB infections and onset of T1D; and PRV-015, which is in phase IIb clinical trial for the treatment of gluten-free diet non-responding celiac disease.

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