Provention Bio Inc. [PRVB] stock Initiated by Jefferies analyst, price target now $10

Provention Bio Inc. [NASDAQ: PRVB] stock went on an upward path that rose over 259.70% on Monday, amounting to a one-week price increase of more than 206.62%. The company report on March 13, 2023 that Provention Bio Cancels Fourth Quarter and Full Year 2022 Earnings Release and Conference Call.

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Provention Bio, Inc. (Nasdaq: PRVB), a biopharmaceutical company dedicated to intercepting and preventing immune-mediated disease, today announced it has cancelled the release of its fourth quarter and full year financial results for the period ended December 31, 2022 due to the announcement earlier today that Provention has entered into a definitive agreement to be acquired by Sanofi, Provention’s U.S. TZIELD co-promotion partner, subject to customary regulatory and other closing conditions. In addition, Provention will no longer hold its fourth quarter and full year results conference call that had been scheduled for 8:00 am E.T. Thursday, March 16, 2023. However, Provention will file its annual report on Form 10-K in compliance with the applicable Securities Exchange Commission deadline of March 31, 2023.

Over the last 12 months, PRVB stock rose by 266.26%. The one-year Provention Bio Inc. stock forecast points to a potential downside of -24.03. The average equity rating for PRVB stock is currently 1.60, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $2.27 billion, with 83.12 million shares outstanding and 81.80 million shares in the current float. Compared to the average trading volume of 1.17M shares, PRVB stock reached a trading volume of 35979597 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Guru’s Opinion on 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 $19.43 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 1.60. 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.

Jefferies have made an estimate for Provention Bio Inc. shares, keeping their opinion on the stock as Buy, with their previous recommendation back on September 20, 2022. The new note on the price target was released on November 23, 2021, representing the official price target for Provention Bio Inc. stock. Previously, the target price had yet another drop from $26 to $16, while SVB Leerink kept a Outperform rating on PRVB stock. On April 09, 2021, analysts decreased their price target for PRVB shares from 27 to 25.

The Average True Range (ATR) for Provention Bio Inc. is set at 1.72, with the Price to Sales ratio for PRVB stock in the period of the last 12 months amounting to 812.00. The Price to Book ratio for the last quarter was 13.85, with the Price to Cash per share for the same quarter was set at 1.97.

PRVB Stock Performance Analysis:

Provention Bio Inc. [PRVB] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 206.62. With this latest performance, PRVB shares gained by 158.31% in over the last four-week period, additionally plugging by 356.44% over the last 6 months – not to mention a rise of 266.26% 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 87.42, with the RSI for the last a single of trading hit 90.99, and the three-weeks RSI is set at 84.01 for Provention Bio Inc. [PRVB]. The present Moving Average for the last 50 days of trading for this stock 9.27, while it was recorded at 10.55 for the last single week of trading, and 6.71 for the last 200 days.

Insight into Provention Bio Inc. Fundamentals:

Operating Margin for any stock indicates how profitable investing would be, and Provention Bio Inc. [PRVB] shares currently have an operating margin of -8285.16 and a Gross Margin at +74.91. Provention Bio Inc.’s Net Margin is presently recorded at -8203.01.

Return on Equity for this stock declined to -103.18, with Return on Assets sitting at -86.64.

Provention Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 7.60 and a Current Ratio set at 7.60.

Provention Bio Inc. [PRVB] Insider Position Details

There are presently around $1,091 million, or 48.80% of PRVB stock, in the hands of institutional investors. The top three institutional holders of PRVB stocks are: SESSA CAPITAL IM, L.P. with ownership of 14,879,023, which is approximately 0% of the company’s market cap and around 6.06% of the total institutional ownership; BLACKROCK INC., holding 5,579,604 shares of the stock with an approximate value of $134.47 million in PRVB stocks shares; and VANGUARD GROUP INC, currently with $99.84 million in PRVB stock with ownership of nearly 14.946% of the company’s market capitalization.

Positions in Provention Bio Inc. stocks held by institutional investors increased at the end of Thursday and at the time of the Thursday reporting period, where 97 institutional holders increased their position in Provention Bio Inc. [NASDAQ:PRVB] by around 8,666,492 shares. Additionally, 35 investors decreased positions by around 5,146,680 shares, while 21 investors held positions by with 31,439,109 shares. The mentioned changes placed institutional holdings at 45,252,281 shares, according to the latest SEC report filing. PRVB stock had 40 new institutional investments in for a total of 3,758,338 shares, while 17 institutional investors sold positions of 1,160,118 shares during the same period.


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