Provention Bio Inc. [PRVB] moved down -14.37: Why It’s Important

Provention Bio Inc. [NASDAQ: PRVB] traded at a low on 01/13/21, posting a -14.37 loss after which it closed the day’ session at $16.66. The company report on January 14, 2021 that Provention Bio Announces Pricing of $100 Million Public Offering of Common Stock.

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Provention Bio, Inc. (Nasdaq: PRVB), a biopharmaceutical company dedicated to intercepting and preventing immune-mediated diseases, announced the pricing of its previously announced underwritten public offering of 6,250,000 shares of its common stock at a public offering price of $16.00 per share. Gross proceeds to Provention Bio from the offering are expected to be $100 million, before deducting underwriting discounts and commissions and other offering expenses payable by Provention Bio. In addition, Provention Bio has granted the underwriters a 30-day option to purchase up to an additional 937,500 shares of its common stock, at the public offering price less underwriting discounts and commissions. All of the shares in the offering are being sold by Provention Bio. The offering is expected to close on or about January 19, 2021, subject to customary closing conditions.

SVB Leerink and Cantor Fitzgerald & Co. are acting as joint bookrunning managers for the public offering. Oppenheimer & Co. Inc. is acting as lead manager and H.C. Wainwright & Co. and SMBC Nikko are acting as co-managers for the public offering.

The results of the trading session contributed to over 3007644 shares changing hands. Over the past one week, the price volatility of Provention Bio Inc. stands at 8.09% while the volatility over the past one month is 6.15%.

The market cap for PRVB stock reached $959.49 million, with 56.34 million shares outstanding and 41.91 million shares in the current float. Compared to the average trading volume of 515.21K shares, PRVB reached a trading volume of 3007644 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about Provention Bio Inc. [PRVB]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for PRVB shares is $29.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on PRVB stock is a recommendation set at 1.70. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

H.C. Wainwright have made an estimate for Provention Bio Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on June 16, 2020. While these analysts kept the previous recommendation, RBC Capital Mkts raised their target price to Outperform. The new note on the price target was released on June 04, 2020, representing the official price target for Provention Bio Inc. stock. Previously, the target price had yet another raise to $29, while Oppenheimer analysts kept a Outperform rating on PRVB stock.

The Average True Range (ATR) for Provention Bio Inc. is set at 1.26 The Price to Book ratio for the last quarter was 6.94, with the Price to Cash per share for the same quarter was set at 2.55.

How has PRVB stock performed recently?

Provention Bio Inc. [PRVB] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -4.23. With this latest performance, PRVB shares dropped by -7.47% in over the last four-week period, additionally plugging by 31.97% over the last 6 months – not to mention a rise of 4.95% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PRVB stock in for the last two-week period is set at 46.50, with the RSI for the last a single of trading hit 42.49, and the three-weeks RSI is set at 49.32 for Provention Bio Inc. [PRVB]. The present Moving Average for the last 50 days of trading for this stock 16.19, while it was recorded at 17.92 for the last single week of trading, and 13.57 for the last 200 days.

Provention Bio Inc. [PRVB]: Deeper insight into the fundamentals

Return on Total Capital for PRVB is now -62.58, given the latest momentum, and Return on Invested Capital for the company is -61.04. Return on Equity for this stock declined to -61.04, with Return on Assets sitting at -58.68.

Reflecting on the efficiency of the workforce at the company, Provention Bio Inc. [PRVB] managed to generate an average of -$2,278,158 per employee.Provention Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 9.20 and a Current Ratio set at 9.20.

Earnings analysis for Provention Bio Inc. [PRVB]

With the latest financial reports released by the company, Provention Bio Inc. posted -0.22/share EPS, while the average EPS was predicted by analysts to be reported at -0.24/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 8.30%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PRVB.

Insider trade positions for Provention Bio Inc. [PRVB]

There are presently around $371 million, or 42.80% of PRVB stock, in the hands of institutional investors. The top three institutional holders of PRVB stocks are: PERCEPTIVE ADVISORS LLC with ownership of 4,265,711, which is approximately -5.745% of the company’s market cap and around 9.20% of the total institutional ownership; BLACKROCK INC., holding 3,314,151 shares of the stock with an approximate value of $55.2 million in PRVB stocks shares; and VANGUARD GROUP INC, currently with $36.65 million in PRVB stock with ownership of nearly 3.161% of the company’s market capitalization.

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Positions in Provention Bio Inc. stocks held by institutional investors increased at the end of March and at the time of the March reporting period, where 57 institutional holders increased their position in Provention Bio Inc. [NASDAQ:PRVB] by around 4,516,094 shares. Additionally, 43 investors decreased positions by around 3,094,895 shares, while 15 investors held positions by with 14,656,896 shares. The mentioned changes placed institutional holdings at 22,267,885 shares, according to the latest SEC report filing. PRVB stock had 10 new institutional investments in for a total of 215,832 shares, while 15 institutional investors sold positions of 830,160 shares during the same period.

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