Provention Bio Inc. (NASDAQ:PRVB) shares traded 8.90% higher at $10.40 on Wall Street last session.
In accordance with the data, 7 analysts cover Provention Bio Inc. (NASDAQ:PRVB). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $9.00, we find $18.00. Given the previous closing price of $9.55, this indicates a potential upside of 88.48 percent. PRVB stock price is now 24.48% away from the 50-day moving average and 77.60% away from the 200-day moving average. The market capitalization of the company currently stands at $937.87M.
It has been rated a hold by 1 analysts and a buy by 6. Brokers who have rated the stock have averaged $17.86 as their price target over the next twelve months.
With the price target of $10, Jefferies recently initiated with Buy rating for Provention Bio Inc. (NASDAQ: PRVB). , while ‘SVB Leerink’ rates the stock as ‘Outperform’.
In other news, Leon Francisco, Chief Scientific Officer sold 10,674 shares of the company’s stock on Dec 27. The stock was sold for $106,740 at an average price of $10.00. Upon completion of the transaction, the Chief Scientific Officer now directly owns 1,573,000 shares in the company, valued at $16.36 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 23, Chief Scientific Officer Leon Francisco sold 375 shares of the business’s stock. A total of $3,750 was realized by selling the stock at an average price of $10.00. This leaves the insider owning 1,573,000 shares of the company worth $16.36 million. A total of 6.06% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in PRVB stock. A new stake in Provention Bio Inc. shares was purchased by PALO ALTO INVESTORS LP during the first quarter worth $4,064,000. CANDRIAM S.C.A. invested $2,160,000 in shares of PRVB during the first quarter. In the first quarter, GRAHAM CAPITAL MANAGEMENT, L.P. acquired a new stake in Provention Bio Inc. valued at approximately $834,000. GSA CAPITAL PARTNERS LLP acquired a new stake in PRVB for approximately $638,000. AQR CAPITAL MANAGEMENT LLC purchased a new stake in PRVB valued at around $144,000 in the second quarter. In total, there are 174 active investors with 48.80% ownership of the company’s stock.
Provention Bio Inc. (NASDAQ: PRVB) opened at $9.64 on Thursday. During the past 12 months, Provention Bio Inc. has had a low of $3.18 and a high of $10.14. As of last week, the company has a debt-to-equity ratio of 0.16, a current ratio of 7.60, and a quick ratio of 7.60. The fifty day moving average price for PRVB is $8.35 and a two-hundred day moving average price translates $5.86 for the stock.
The latest earnings results from Provention Bio Inc. (NASDAQ: PRVB) was released for Jun, 2022. According to the Biotechnology Company, earnings per share came in at -$0.46, beating analysts’ expectations of -$0.5 by 0.04. This compares to -$0.43 EPS in the same period last year. The company reported revenue of $0.76 million for the quarter, compared to $0.68 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 11.5 percent. For the current quarter, analysts expect PRVB to generate $780k in revenue.
Provention Bio Inc.(PRVB) Company Profile
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-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. The company has a license and collaboration agreement with Amgen Inc. for PRV-015, a novel anti-IL-15 monoclonal antibody being developed for the treatment of gluten-free diet non-responsive celiac disease; and a strategic collaboration with Hangzhou Zhongmei Huadong Pharmaceutical Co., Ltd. to develop and commercialize PRV-3279, a bispecific antibody-based molecule targeting the B cell surface proteins CD32B and CD79B in Greater China. Provention Bio, Inc. was incorporated in 2016 and is headquartered in Red Bank, New Jersey.