Provention Bio (NASDAQ:PRVB) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Saturday, Zacks.com reports.

According to Zacks, “Provention Bio, Inc. is a biopharmaceutical company. It focuses on development of novel therapeutics and solutions to intercept and prevent immune-mediated disease. The company’s product pipeline consists of PRV-031, PRV-6527, PRV-300, PRV-3279 and PRV-101 which are in clinical stage. Provention Bio, Inc. is based in NJ, United States. “

PRVB has been the subject of several other reports. ValuEngine cut shares of Provention Bio from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. HC Wainwright reiterated a “buy” rating and issued a $20.00 price objective on shares of Provention Bio in a report on Monday, October 28th. Chardan Capital reiterated a “buy” rating and issued a $18.50 price objective on shares of Provention Bio in a report on Wednesday, October 23rd. Finally, Leerink Swann increased their price objective on shares of Provention Bio from $17.00 to $35.00 and gave the company an “outperform” rating in a report on Monday, August 5th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. Provention Bio has an average rating of “Buy” and a consensus price target of $17.45.

Shares of Provention Bio stock traded up $0.36 on Friday, hitting $8.24. The company had a trading volume of 13,670 shares, compared to its average volume of 418,870. The business has a 50-day simple moving average of $6.98 and a 200-day simple moving average of $8.31. The company has a market cap of $384.44 million, a PE ratio of -6.92 and a beta of 5.68. Provention Bio has a 52 week low of $1.52 and a 52 week high of $22.82.

Provention Bio (NASDAQ:PRVB) last posted its quarterly earnings data on Tuesday, November 5th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.30) by $0.06. On average, equities analysts expect that Provention Bio will post -1.06 EPS for the current year.

In other Provention Bio news, CEO Ashleigh Palmer bought 3,000 shares of Provention Bio stock in a transaction that occurred on Tuesday, September 24th. The stock was purchased at an average cost of $8.38 per share, for a total transaction of $25,140.00. Also, Director Anthony Digiandomenico bought 30,000 shares of Provention Bio stock in a transaction that occurred on Monday, September 30th. The shares were acquired at an average price of $6.83 per share, with a total value of $204,900.00. Insiders have purchased 39,450 shares of company stock valued at $283,112 over the last 90 days. 19.60% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC bought a new stake in Provention Bio during the third quarter worth approximately $137,000. SG Americas Securities LLC bought a new stake in Provention Bio during the third quarter worth approximately $278,000. Sigma Planning Corp boosted its holdings in Provention Bio by 18.9% during the third quarter. Sigma Planning Corp now owns 68,900 shares of the company’s stock worth $470,000 after buying an additional 10,950 shares in the last quarter. Clear Harbor Asset Management LLC bought a new stake in Provention Bio during the third quarter worth approximately $106,000. Finally, BB&T Securities LLC bought a new stake in Provention Bio during the third quarter worth approximately $136,000. Hedge funds and other institutional investors own 7.11% of the company’s stock.

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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