Provention Bio (PRVB) Downgraded by Zacks Investment Research

Zacks Investment Research lowered shares of Provention Bio (NASDAQ:PRVB) from a buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.

According to Zacks, “Provention Bio, Inc. is a biopharmaceutical company. It focuses on development of novel therapeutics and solutions to intercept and prevent immune-mediated disease. The company’s product pipeline consists of PRV-031, PRV-6527, PRV-300, PRV-3279 and PRV-101 which are in clinical stage. Provention Bio, Inc. is based in NJ, United States. “

Several other research firms have also issued reports on PRVB. HC Wainwright restated a buy rating and issued a $8.00 price target on shares of Provention Bio in a research report on Tuesday, January 29th. Svb Leerink began coverage on shares of Provention Bio in a research report on Friday, February 22nd. They issued an outperform rating and a $6.00 price target on the stock. Finally, Leerink Swann began coverage on shares of Provention Bio in a research report on Friday, February 22nd. They issued an outperform rating on the stock.

NASDAQ:PRVB traded up $0.28 during trading hours on Thursday, reaching $3.83. 200 shares of the company’s stock were exchanged, compared to its average volume of 81,812. The stock has a market capitalization of $131.51 million and a price-to-earnings ratio of -3.20. Provention Bio has a 12 month low of $1.52 and a 12 month high of $8.00.

Provention Bio (NASDAQ:PRVB) last issued its quarterly earnings results on Wednesday, May 8th. The company reported ($0.29) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.18) by ($0.11). As a group, research analysts predict that Provention Bio will post -1.11 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. lifted its holdings in Provention Bio by 26.4% during the 4th quarter. BlackRock Inc. now owns 26,235 shares of the company’s stock valued at $46,000 after purchasing an additional 5,472 shares during the last quarter. Alambic Investment Management L.P. bought a new position in Provention Bio during the 4th quarter valued at about $29,000. Silverleafe Capital Partners LLC bought a new position in Provention Bio during the 1st quarter valued at about $46,000. Lido Advisors LLC bought a new position in Provention Bio during the 4th quarter valued at about $47,000. Finally, Vanguard Group Inc. bought a new position in Provention Bio during the 3rd quarter valued at about $2,859,000. Institutional investors own 1.76% of the company’s stock.

About Provention Bio

Provention Bio, Inc, a clinical stage biopharmaceutical company, focuses on the development and commercialization of novel therapeutics and cutting-edge 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-6527, oral CSF-1R inhibitor, which is in Phase 2a clinical trial for the treatment of Crohn's disease; PRV-300, anti-TLR3 mAb, which is in Phase 1b clinical trial for the treatment of ulcerative colitis; PRV-3279 for the treatment of lupus; and PRV-101, a multivalent coxsackie virus vaccine for the prevention of acute Coxsackie Virus B Vaccine and the prevention of the onset of T1D.

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