Provention Bio, Inc. (NASDAQ:PRVB) Shares Acquired by Millennium Management LLC

Millennium Management LLC increased its stake in Provention Bio, Inc. (NASDAQ:PRVB) by 67.8% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 563,688 shares of the company’s stock after acquiring an additional 227,727 shares during the period. Millennium Management LLC owned approximately 0.89% of Provention Bio worth $4,752,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its position in shares of Provention Bio by 407.1% in the first quarter. Royal Bank of Canada now owns 4,508 shares of the company’s stock worth $48,000 after acquiring an additional 3,619 shares during the last quarter. Nisa Investment Advisors LLC acquired a new stake in shares of Provention Bio in the second quarter worth approximately $43,000. Price T Rowe Associates Inc. MD acquired a new stake in shares of Provention Bio in the second quarter worth approximately $85,000. Invst LLC acquired a new stake in shares of Provention Bio in the second quarter worth approximately $72,000. Finally, Bridgefront Capital LLC acquired a new stake in shares of Provention Bio in the second quarter worth approximately $107,000. 42.86% of the stock is currently owned by institutional investors and hedge funds.

PRVB opened at $7.39 on Thursday. The firm has a market capitalization of $468.34 million, a P/E ratio of -3.71 and a beta of 2.84. The firm’s 50 day moving average is $6.45 and its 200-day moving average is $6.87. Provention Bio, Inc. has a 52-week low of $5.59 and a 52-week high of $20.05.

Provention Bio (NASDAQ:PRVB) last posted its quarterly earnings data on Thursday, November 4th. The company reported ($0.43) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.51) by $0.08. The firm had revenue of $0.68 million for the quarter, compared to analysts’ expectations of $3.75 million. During the same quarter in the prior year, the business earned ($0.56) EPS. As a group, analysts forecast that Provention Bio, Inc. will post -1.87 earnings per share for the current year.

A number of research analysts have weighed in on PRVB shares. Zacks Investment Research raised shares of Provention Bio from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research report on Wednesday. SVB Leerink reaffirmed a “buy” rating and set a $16.00 price target on shares of Provention Bio in a research report on Monday, September 20th. Oppenheimer reduced their price target on shares of Provention Bio from $18.00 to $16.00 and set an “outperform” rating on the stock in a research report on Friday, August 6th. Sumitomo Mitsui Financial Group raised shares of Provention Bio from a “neutral” rating to an “outperform” rating in a research report on Tuesday. Finally, UBS Group raised shares of Provention Bio from a “neutral” rating to an “outperform” rating in a research report on Tuesday. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $16.36.

Provention Bio Company Profile

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.

Further Reading: What is a back-end load?

Want to see what other hedge funds are holding PRVB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Provention Bio, Inc. (NASDAQ:PRVB).

Institutional Ownership by Quarter for Provention Bio (NASDAQ:PRVB)

Receive News & Ratings for Provention Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Provention Bio and related companies with MarketBeat.com's FREE daily email newsletter.