In last trading session, Provention Bio Inc. (NASDAQ:PRVB) saw 2.86 million shares changing hands with its beta currently measuring 2.37. Company’s recent per share price level of $9.41 trading at $0.52 or 5.85% at ring of the bell on the day assigns it a market valuation of $836.74M. That closing price of PRVB’s stock is at a discount of -2.55% from its 52-week high price of $9.65 and is indicating a premium of 66.21% from its 52-week low price of $3.18. Taking a look at company’s average trading volume for last 10-days demonstrates a volume of 3.35 million shares which gives us an average trading volume of 1.83 million if we extend that period to 3-months.
For Provention Bio Inc. (PRVB), analysts’ consensus is at an average recommendation of a Buy while assigning it a mean rating of 1.70. Splitting up the data highlights that, out of 8 analysts covering the stock, 0 rated the stock as a Sell while 0 recommended an Overweight rating for the stock. 1 suggested the stock as a Hold whereas 7 see the stock as a Buy. 0 analyst(s) advised it as an Underweight. The company is expected to be making an EPS of -$0.42 in the current quarter.
Provention Bio Inc. (NASDAQ:PRVB) trade information
Upright in the green during last session for gaining 5.85%, in the last five days PRVB remained trading in the green while hitting it’s week-highest on Wednesday, 11/23/22 when the stock touched $9.41 price level, adding 0.42% to its value on the day. Provention Bio Inc.’s shares saw a change of 67.44% in year-to-date performance and have moved 9.55% in past 5-day. Provention Bio Inc. (NASDAQ:PRVB) showed a performance of 40.87% in past 30-days. Number of shares sold short was 3.48 million shares which calculate 2.32 days to cover the short interests.
Wall Street analysts have assigned a consensus price target of $17.88 to the stock, which implies a rise of 47.37% to its current value. Analysts have been projecting $9.00 as a low price target for the stock while placing it at a high target of $30.00. It follows that stock’s current price would drop -218.81% in reaching the projected high whereas dropping to the targeted low would mean a gain of 4.36% for stock’s current value.
Provention Bio Inc. (PRVB) estimates and forecasts
Statistics highlight that Provention Bio Inc. is scoring comparatively higher than the scores of other players of the relevant industry. The company added 148.28% of value to its shares in past 6 months, showing an annual growth rate of 8.29% while that of industry is 4.40. Apart from that, the company came raising its revenue forecast for fiscal year 2022. The company is estimating its revenue growth to increase by 2.30% in the current quarter and calculating -46.30% decrease in the next quarter. This year revenue growth is estimated to rise 209.00% from the last financial year’s standing.
7 industry analysts have given their estimates about the company’s current quarter revenue by setting an average figure of $780k for the same. And 6 analysts are in estimates of company making revenue of $2.64 million in the next quarter that will end on Dec 2022. Company posted $1.25 million and $717k of sales in current and next quarters respectively a year earlier. Analysts are expecting this quarter sales to shrink by -37.60% while estimating it to be 268.20% for the next quarter.
Provention Bio Inc. is more likely to be releasing its next quarterly report between February 22 and February 27 and investors are confident in the company announcing better current-quarter dividends despite the fact that it has been facing issues arising out of mounting debt.
Provention Bio Inc. (NASDAQ:PRVB)’s Major holders
Insiders are in possession of 6.48% of company’s total shares while institution are holding 48.19 percent of that, with stock having share float percentage of 51.53%. Investors also watch the number of corporate investors in a company very closely, which is 48.19% institutions for Provention Bio Inc. that are currently holding shares of the company. Sessa Capital IM, L.P. is the top institutional holder at PRVB for having 6.0 million shares of worth $24.0 million. And as of Jun 29, 2022, it was holding 7.36% of the company’s outstanding shares.
The second largest institutional holder is Blackrock Inc., which was holding about 4.61 million shares on Jun 29, 2022. The number of shares represents firm’s hold over 5.65% of outstanding shares, having a total worth of $18.42 million.
On the other hand, Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF are the top two Mutual Funds which own company’s shares. As of Jun 29, 2022, the former fund manager was holding 1.5 million shares of worth $6.01 million or 1.84% of the total outstanding shares. The later fund manager was in possession of 1.33 million shares on Sep 29, 2022, making its stake of worth around $6.0 million in the company or a holder of 1.63% of company’s stock.