Credit Suisse AG raised its position in shares of Provention Bio, Inc. (NASDAQ:PRVB) by 96.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 47,614 shares of the company’s stock after buying an additional 23,374 shares during the quarter. Credit Suisse AG owned 0.08% of Provention Bio worth $807,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the business. Liberty One Investment Management LLC increased its position in shares of Provention Bio by 37.0% in the fourth quarter. Liberty One Investment Management LLC now owns 7,580 shares of the company’s stock worth $128,000 after acquiring an additional 2,048 shares in the last quarter. Raymond James & Associates boosted its stake in Provention Bio by 52.9% in the 3rd quarter. Raymond James & Associates now owns 15,384 shares of the company’s stock worth $197,000 after purchasing an additional 5,320 shares during the period. JPMorgan Chase & Co. grew its position 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 purchasing an additional 3,486 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in Provention Bio by 5.6% during the 4th quarter. State Board of Administration of Florida Retirement System now owns 14,567 shares of the company’s stock worth $247,000 after purchasing an additional 770 shares in the last quarter. Finally, Citigroup Inc. raised its stake in Provention Bio by 74.6% during 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 owned by institutional investors.
NASDAQ PRVB opened at $9.97 on Thursday. Provention Bio, Inc. has a fifty-two week low of $8.35 and a fifty-two week high of $20.05. The stock’s 50-day moving average is $12.49 and its two-hundred day moving average is $14.39. The firm has a market cap of $631.85 million, a P/E ratio of -6.69 and a beta of 3.34.
Several equities analysts have weighed in on PRVB shares. Zacks Investment Research cut Provention Bio from a “hold” rating to a “sell” rating in a research note on Tuesday, March 9th. HC Wainwright raised their price target on Provention Bio from $26.00 to $34.00 and gave the stock a “buy” rating in a research note on Monday, March 1st. Finally, Chardan Capital lowered their price target on Provention Bio from $40.00 to $35.00 and set a “buy” rating for the company in a research note on Thursday, February 25th. One research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $27.80.
Provention Bio 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-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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