Provention Bio (NASDAQ:PRVB) Price Target Raised to $19.00 at SVB Leerink

Provention Bio (NASDAQ:PRVBGet Rating) had its price objective upped by SVB Leerink from $16.00 to $19.00 in a research report report published on Monday morning, MarketBeat reports. They currently have an outperform rating on the stock.

PRVB has been the subject of several other research reports. Chardan Capital upped their price objective on shares of Provention Bio from $24.00 to $30.00 and gave the company a buy rating in a research note on Friday, November 18th. Jefferies Financial Group upped their price objective on shares of Provention Bio from $18.00 to $22.00 and gave the company a buy rating in a research note on Friday, November 18th. Finally, Oppenheimer boosted their target price on shares of Provention Bio from $14.00 to $18.00 and gave the company an outperform rating in a report on Friday, November 18th. Six analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of Buy and an average target price of $21.40.

Provention Bio Trading Up 5.8 %

Shares of NASDAQ PRVB opened at $9.41 on Monday. Provention Bio has a 12-month low of $3.18 and a 12-month high of $9.65. The company has a quick ratio of 7.58, a current ratio of 7.58 and a debt-to-equity ratio of 0.16. The company has a 50-day moving average of $6.65 and a 200 day moving average of $5.13.

Hedge Funds Weigh In On Provention Bio

Several institutional investors and hedge funds have recently bought and sold shares of the company. Nisa Investment Advisors LLC acquired a new position in shares of Provention Bio in the 1st quarter worth approximately $332,000. Advisor Group Holdings Inc. lifted its holdings in shares of Provention Bio by 16.9% in the 1st quarter. Advisor Group Holdings Inc. now owns 76,496 shares of the company’s stock worth $560,000 after acquiring an additional 11,043 shares during the last quarter. Rice Hall James & Associates LLC lifted its holdings in shares of Provention Bio by 6.7% in the 1st quarter. Rice Hall James & Associates LLC now owns 220,065 shares of the company’s stock worth $1,611,000 after acquiring an additional 13,850 shares during the last quarter. Swiss National Bank lifted its holdings in shares of Provention Bio by 7.3% in the 1st quarter. Swiss National Bank now owns 112,400 shares of the company’s stock worth $823,000 after acquiring an additional 7,600 shares during the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Provention Bio by 22.0% in the 1st quarter. JPMorgan Chase & Co. now owns 34,859 shares of the company’s stock worth $255,000 after acquiring an additional 6,280 shares during the last quarter. 37.39% of the stock is currently owned by institutional investors and hedge funds.

About Provention Bio

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Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of therapeutics and 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-3279, which has completed Phase Ib clinical trial for the treatment of lupus; PRV-101, a coxsackie virus B (CVB) vaccine for the prevention of acute CVB infections and onset of T1D; and PRV-015, which is in phase IIb clinical trial for the treatment of gluten-free diet non-responding celiac disease.

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