Provention Bio Inc (NASDAQ:PRVB) Shares Acquired by Perceptive Advisors LLC
Perceptive Advisors LLC lifted its stake in shares of Provention Bio Inc (NASDAQ:PRVB) by 338.5% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,921,574 shares of the company’s stock after purchasing an additional 2,255,252 shares during the period. Provention Bio makes up about 0.9% of Perceptive Advisors LLC’s holdings, making the stock its 27th biggest position. Perceptive Advisors LLC owned 6.13% of Provention Bio worth $43,532,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in PRVB. Bank of America Corp DE raised its holdings in Provention Bio by 28.0% during the 4th quarter. Bank of America Corp DE now owns 7,000 shares of the company’s stock worth $105,000 after buying an additional 1,532 shares during the period. J. Goldman & Co LP acquired a new stake in shares of Provention Bio in the fourth quarter worth $651,000. Bank of New York Mellon Corp boosted its position in shares of Provention Bio by 293.3% in the fourth quarter. Bank of New York Mellon Corp now owns 47,506 shares of the company’s stock worth $708,000 after buying an additional 35,428 shares during the period. UBS Group AG grew its holdings in shares of Provention Bio by 68.5% during the fourth quarter. UBS Group AG now owns 20,839 shares of the company’s stock valued at $311,000 after buying an additional 8,470 shares in the last quarter. Finally, Wealthspire Advisors L.P. grew its holdings in shares of Provention Bio by 12.0% during the fourth quarter. Wealthspire Advisors L.P. now owns 70,000 shares of the company’s stock valued at $1,043,000 after buying an additional 7,500 shares in the last quarter. 18.45% of the stock is owned by institutional investors and hedge funds.
Shares of NASDAQ PRVB traded up $1.25 during trading hours on Thursday, hitting $8.40. The stock had a trading volume of 452,701 shares, compared to its average volume of 611,455. The firm’s 50-day moving average price is $11.66 and its two-hundred day moving average price is $10.88. Provention Bio Inc has a 52 week low of $2.20 and a 52 week high of $22.82. The company has a market capitalization of $341.13 million, a P/E ratio of -7.85 and a beta of 5.62.
In other Provention Bio news, insider Jason Hoitt acquired 4,500 shares of Provention Bio stock in a transaction that occurred on Thursday, March 19th. The stock was acquired at an average price of $6.25 per share, with a total value of $28,125.00. 19.60% of the stock is currently owned by company insiders.
PRVB has been the subject of a number of research reports. SVB Leerink restated an “outperform” rating on shares of Provention Bio in a research report on Thursday, January 2nd. BidaskClub upgraded Provention Bio from a “sell” rating to a “hold” rating in a report on Tuesday. Cantor Fitzgerald started coverage on shares of Provention Bio in a research report on Friday, January 24th. They issued an “overweight” rating and a $25.00 price target for the company. Zacks Investment Research cut shares of Provention Bio from a “hold” rating to a “sell” rating in a report on Thursday, March 19th. Finally, HC Wainwright restated a “buy” rating on shares of Provention Bio in a report on Wednesday, March 18th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $21.45.
About Provention Bio
Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics and cutting-edge 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, oral CSF-1R inhibitor, which is in Phase 2a clinical trial for the treatment of Crohn's disease; PRV-300, anti-TLR3 mAb, which is in Phase 1b clinical trial for the treatment of ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101, a multivalent coxsackie virus vaccine for the prevention of acute Coxsackie Virus B Vaccine and the prevention of the onset of T1D.
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