Squarepoint Ops LLC Invests $157,000 in Provention Bio, Inc. (NASDAQ:PRVB)

Squarepoint Ops LLC purchased a new position in shares of Provention Bio, Inc. (NASDAQ:PRVB) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,616 shares of the company’s stock, valued at approximately $157,000.

Several other hedge funds have also modified their holdings of PRVB. Goldman Sachs Group Inc. lifted its holdings in shares of Provention Bio by 366.5% during the first quarter. Goldman Sachs Group Inc. now owns 340,506 shares of the company’s stock worth $3,573,000 after buying an additional 267,517 shares during the last quarter. Nuveen Asset Management LLC increased its position in shares of Provention Bio by 0.9% during the first quarter. Nuveen Asset Management LLC now owns 344,866 shares of the company’s stock valued at $3,619,000 after purchasing an additional 3,137 shares during the period. Royal Bank of Canada increased its position in shares of Provention Bio by 407.1% during the first quarter. Royal Bank of Canada now owns 4,508 shares of the company’s stock valued at $48,000 after purchasing an additional 3,619 shares during the period. California State Teachers Retirement System increased its position in shares of Provention Bio by 11.1% during the first quarter. California State Teachers Retirement System now owns 80,035 shares of the company’s stock valued at $840,000 after purchasing an additional 7,999 shares during the period. Finally, Jane Street Group LLC increased its position in shares of Provention Bio by 83.6% during the first quarter. Jane Street Group LLC now owns 32,909 shares of the company’s stock valued at $345,000 after purchasing an additional 14,985 shares during the period. Institutional investors own 42.86% of the company’s stock.

Shares of PRVB stock opened at $7.39 on Thursday. The stock’s fifty day moving average is $6.45 and its 200-day moving average is $6.87. The stock has a market capitalization of $468.34 million, a PE ratio of -3.71 and a beta of 2.84. Provention Bio, Inc. has a 52 week low of $5.59 and a 52 week high of $20.05.

Provention Bio (NASDAQ:PRVB) last issued its quarterly earnings results on Thursday, November 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.51) by $0.08. The firm had revenue of $0.68 million for the quarter, compared to analyst estimates of $3.75 million. During the same period last year, the company earned ($0.56) EPS. Equities research analysts forecast that Provention Bio, Inc. will post -1.87 earnings per share for the current year.

A number of research firms have recently issued reports on PRVB. HC Wainwright restated a “buy” rating and set a $25.00 price objective on shares of Provention Bio in a research report on Tuesday, September 14th. Zacks Investment Research upgraded Provention Bio from a “hold” rating to a “buy” rating and set a $8.00 price objective on the stock in a research report on Wednesday. UBS Group upgraded Provention Bio from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Oppenheimer lowered their price target on Provention Bio from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. Finally, Sumitomo Mitsui Financial Group upgraded Provention Bio from a “neutral” rating to an “outperform” rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $16.36.

About Provention Bio

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.

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Institutional Ownership by Quarter for Provention Bio (NASDAQ:PRVB)

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