Equities Analysts Issue Forecasts for Provention Bio, Inc.’s FY2022 Earnings (NASDAQ:PRVB)

Provention Bio, Inc. (NASDAQ:PRVB – Get Rating) – Analysts at Cantor Fitzgerald issued their FY2022 earnings estimates for Provention Bio in a note issued to investors on Tuesday, March 14th. Cantor Fitzgerald analyst P. Agrawal forecasts that the company will earn ($2.50) per share for the year. Cantor Fitzgerald has a “Neutral” rating on the stock. The consensus estimate for Provention Bio’s current full-year earnings is ($1.64) per share.

Several other analysts have also commented on the stock. Sumitomo Mitsui Financial Group reissued a “neutral” rating and set a $25.00 price target (up from $15.00) on shares of Provention Bio in a research report on Tuesday, March 14th. HC Wainwright lowered shares of Provention Bio from a “buy” rating to a “neutral” rating and increased their price target for the company from $16.00 to $25.00 in a research report on Wednesday. Chardan Capital decreased their price target on shares of Provention Bio from $30.00 to $25.00 and set a “buy” rating for the company in a research report on Monday, March 13th. SVB Leerink increased their price target on shares of Provention Bio from $16.00 to $19.00 and gave the company an “outperform” rating in a research report on Monday, November 21st. Finally, Jefferies Financial Group lowered shares of Provention Bio from a “buy” rating to a “hold” rating and set a $25.00 price target for the company. in a research report on Tuesday, March 14th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $22.83.

Provention Bio Stock Performance

PRVB stock opened at $23.99 on Friday. The firm has a market cap of $2.09 billion, a price-to-earnings ratio of -15.38 and a beta of 2.18. The firm has a 50-day simple moving average of $10.42 and a two-hundred day simple moving average of $8.42. Provention Bio has a one year low of $3.18 and a one year high of $24.23. The company has a debt-to-equity ratio of 0.16, a quick ratio of 7.58 and a current ratio of 7.58.

Institutional Investors Weigh In On Provention Bio

Several hedge funds have recently added to or reduced their stakes in PRVB. PNC Financial Services Group Inc. boosted its holdings in Provention Bio by 320.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 2,625 shares of the company’s stock valued at $28,000 after purchasing an additional 2,000 shares during the last quarter. Dorsey Wright & Associates purchased a new stake in Provention Bio in the fourth quarter valued at $31,000. Royal Bank of Canada boosted its holdings in Provention Bio by 166.5% in the third quarter. Royal Bank of Canada now owns 7,769 shares of the company’s stock valued at $35,000 after purchasing an additional 4,854 shares during the last quarter. Cantor Fitzgerald L. P. purchased a new stake in Provention Bio in the third quarter valued at $45,000. Finally, Prelude Capital Management LLC purchased a new stake in Provention Bio in the second quarter valued at $48,000. 37.39% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Jason Hoitt sold 4,500 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $10.00, for a total transaction of $45,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder Sessa Capital (Master), L.P. sold 3,000,000 shares of the business’s stock in a transaction on Wednesday, January 18th. The shares were sold at an average price of $9.40, for a total transaction of $28,200,000.00. Following the sale, the insider now directly 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 Securities & Exchange Commission, which is available through this link. Also, insider Jason Hoitt sold 4,500 shares of the business’s stock in a transaction on Friday, February 10th. The shares were sold at an average price of $10.00, for a total transaction of $45,000.00. The disclosure for this sale can be found here. Insiders have sold 3,352,549 shares of company stock valued at $31,794,691 over the last ninety days. 13.10% of the stock is currently owned by insiders.

Provention Bio Company Profile

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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.