Provention Bio, Inc. (NASDAQ:PRVB) is one of the stocks that are taking the center stage today as the company shares are trading 319.08% or 13.88 points higher from last closing price of $4.35, reaching $18.23 at last check. So what’s going on with PRVB shares anyway? The price is gaining for the second day in a row and has risen in 3 of the last 5 days and is up 78.28% over the past week. It will be exciting to see whether the stock manages to continue increasing or take a minor break for the next few days. The move came on solid volume too with far more shares changing hands than in a normal session. Trading activity as of this writing strengthened by 7,974,674 shares, and in total 8.272 million shares valued at $150.796 million were seen changing hands compared with 297200 shares valued at $1.293 million recorded at the previous session. You should take into consideration that a greater volume on higher prices causes bullish signal for the market. It shows the sentiment is in an uptrend and more and more traders want to enter in the PRVB stock.
Provention Bio, Inc. (PRVB) shares have notched a 3-month gain of about 78.28%, but has still advanced 145.76% year to date. By comparison, the stock sank 0% over the past 12 months, while it jumped 6.62% over the 1 month. The company’s market cap is around $149.81M, with its short interest ratio standing at 0.15%.
In the current trading session for PRVB, the stock witnessed two major price actions, it rose to a high of $18.25 and was down as much as $9.75 at one point. The high recorded is very low when compared to their 52-week high which is $1.52. The 52-week high is now at 50.25 distance from current price. Their recent low of $8 represents a 690.79% recovery. This data is quite important for investors who look to benefit from the recent rise of the company’s stock. The price target currently for PRVB is $6.75, this is below the recent high that the stock attained. Taking a look at the overall sentimental views of financial analysts, the trading pattern of this stock recently is very clear.
The company recorded an interesting insider purchase transaction by the Insider on Dec 31, 2018. A Securities and Exchanges Commission filings show that Ashleigh Palmer bought a total of 5,825 PRVB shares that day for a sum of around $9,961. Provention Bio, Inc. (PRVB) insiders have acquired no shares in the stock within the past three months. In total, individual insiders traded no shares in the business, which makes up 0% of 4,618,287 shares that were traded over a year. In the past 12 months, insiders have purchased 4,618,287 shares while the seller parted with shares.
PRVB‘s last price was up 299.49% as compared to the average trading price of 50 days recorded at $4.56 while enlarging the period to 200 trading days, the average closing price was $5.19. At present, there are 34.44 million in the total number of common shares owned by the public and among those 24.64 million shares have been available to trade. The percentage of shares being held by the company management was 13.9% while institutions stake was 1.8%. The company has generated negative returns on equity over the last 12 months (-83.2%). It managed to keep its gross profit margin at 0% over the past 12 months.
When assessing the full upside of the PRVB stock, there is another set of technicals that should be looked into and considered. Its 210.07% gain from moving average of $5.88 has brought about a positive sentiment when calculated over the last 20 days. The market has allocated a beta of 0 to the stock. With the beta been less than one, this implies that the company shares are theoretically less volatile than the market, something that the traders definitely are keeping an eye on.
Most of the analysts surveyed by Thomson/First Call think quite highly of Provention Bio, Inc. — 4 analysts rate the stock as a buy with another 0 rating it strong buy. There are 0 analysts who maintain a hold rating for the stock, with 0 giving it a sell rating. Analysts arrived at a 12-month price target of $11.3333 on shares of Provention Bio, Inc. (NASDAQ:PRVB), which corresponds to 29.69% downside potential than its current market price of $18.23 and implies potential despite the recent advance in the price. However, their current target price has climbed from $7 a month ago and is up handily from the consensus target of $7 a quarter ago.
Let’s briefly check the hedge fund interest towards PRVB stock. Silverleafe Capital Partners LLC added position in the company after it grew 50% or 13,333 shares of its common stock. The hedge fund now owns 20,000 shares worth $364,600, SEC documents show. Lido Advisors LLC shored up assets in the stock as 17866.67 shares have been purchased, increasing its stake by 50% to 26,800 shares which are currently valued at $488,564. In addition, Alambic Investment Management L.P. recently reported that it now owns 16,489 shares making a total of $300,595 based on the recent price. This refelects a change of 50% in their ownership.