Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) – Investment analysts at Cantor Fitzgerald issued their FY2022 earnings estimates for shares of Provention Bio in a report issued on Tuesday, March 14th. Cantor Fitzgerald analyst P. Agrawal expects that the company will post earnings per share of ($2.50) for the year. Cantor Fitzgerald has a “Neutral” rating on the stock. The consensus estimate for Provention Bio’s current full-year earnings is ($1.46) per share.
A number of other research analysts have also weighed in on PRVB. SVB Leerink raised their target price on shares of Provention Bio from $16.00 to $19.00 and gave the stock an “outperform” rating in a research note on Monday, November 21st. Sumitomo Mitsui Financial Group reissued a “neutral” rating and issued a $25.00 target price (up from $15.00) on shares of Provention Bio in a research note on Tuesday. Jefferies Financial Group lowered shares of Provention Bio from a “buy” rating to a “hold” rating and set a $25.00 price target on the stock. in a research report on Tuesday. HC Wainwright lowered shares of Provention Bio from a “buy” rating to a “neutral” rating and lifted their price target for the company from $16.00 to $25.00 in a research report on Wednesday. Finally, Oppenheimer lifted their price target 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. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, Provention Bio has an average rating of “Hold” and a consensus target price of $22.83.
Provention Bio Trading Up 0.2 %
Hedge Funds Weigh In On Provention Bio
Several institutional investors have recently modified their holdings of PRVB. Swiss National Bank grew its stake in shares of Provention Bio by 7.3% in the first quarter. Swiss National Bank now owns 112,400 shares of the company’s stock worth $823,000 after acquiring an additional 7,600 shares in the last quarter. JPMorgan Chase & Co. grew its stake in shares of Provention Bio by 22.0% during the first quarter. JPMorgan Chase & Co. now owns 34,859 shares of the company’s stock worth $255,000 after purchasing an additional 6,280 shares in the last quarter. HighTower Advisors LLC acquired a new position in shares of Provention Bio during the first quarter worth $174,000. Private Advisor Group LLC acquired a new position in shares of Provention Bio during the first quarter worth $129,000. Finally, MetLife Investment Management LLC grew its stake in shares of Provention Bio by 337.3% during the first quarter. MetLife Investment Management LLC now owns 32,416 shares of the company’s stock worth $237,000 after purchasing an additional 25,003 shares in the last quarter. Institutional investors and hedge funds own 37.39% of the company’s stock.
Insider Activity
In other Provention Bio news, major shareholder Sessa Capital (Master), L.P. sold 3,000,000 shares of the business’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 value of $28,200,000.00. Following the sale, the insider now owns 11,879,023 shares of the company’s stock, valued at $111,662,816.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Provention Bio news, major shareholder Sessa Capital (Master), L.P. sold 3,000,000 shares of the business’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 value of $28,200,000.00. Following the sale, the insider now owns 11,879,023 shares of the company’s stock, valued at $111,662,816.20. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Francisco Leon sold 10,674 shares of the business’s 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 completion of the sale, the insider now directly owns 1,573,000 shares in the company, valued at approximately $15,730,000. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 3,352,549 shares of company stock valued at $31,794,691. 13.10% of the stock is currently owned by company insiders.
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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