Provention Bio Inc. (NASDAQ: PRVB) stock jumped 1.74% on Friday to $9.04 against a previous-day closing price of $8.89. With 0.76 million shares changed hands, the volume of the stock remained lighter than its average volume of 1.83 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $9.18 whereas the lowest price it dropped to was $8.80. The 52-week range on PRVB shows that it touched its highest point at $10.88 and its lowest point at $3.18 during that stretch. It currently has a 1-year price target of $19.71. Beta for the stock currently stands at 2.26.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of PRVB was down-trending over the past week, with a drop of -6.13%, but this was up by 2.03% over a month. Three-month performance surged to 34.72% while six-month performance rose 118.89%. The stock gained 106.87% in the past year, while it has lost -14.47% so far this year. A look at the trailing 12-month EPS for PRVB yields -1.56 with Next year EPS estimates of -1.72. For the next quarter, that number is -0.48. This implies an EPS growth rate of 3.50% for this year and -3.00% for next year.
Float and Shares Shorts:
At present, 83.12 million PRVB shares are outstanding with a float of 81.80 million shares on hand for trading. On Oct 13, 2022, short shares totaled 3.48 million, which was 4.27% higher than short shares on Sep 14, 2022. In addition to Mr. Ashleigh W. Palmer B.Sc., M.B.A. as the firm’s Co-Founder, Pres, CEO & Director, Mr. Thierry Chauche serves as its Chief Financial Officer.
Through their ownership of 48.19% of PRVB’s outstanding shares, institutional investors have minority control over the company. Other institutions hold 32.70% of PRVB, in contrast to 15.20% held by mutual funds. Shares owned by individuals account for 13.57%. As the largest shareholder in PRVB with 17.07% of the stake, Sessa Capital IM LP holds 14,879,023 shares worth 14,879,023. A second-largest stockholder of PRVB, Adage Capital Management LP, holds 5,770,000 shares, controlling over 6.62% of the firm’s shares. BlackRock Fund Advisors is the third largest shareholder in PRVB, holding 4,335,135 shares or 4.97% stake. With a 2.93% stake in PRVB, the Vanguard Total Stock Market Index is the largest stakeholder. A total of 2,553,871 shares are owned by the mutual fund manager. The iShares Russell 2000 ETF, which owns about 1.60% of PRVB stock, is the second-largest Mutual Fund holder. It holds 1,391,974 shares valued at 14.71 million. Vanguard Extended Market Index Fu holds 1.21% of the stake in PRVB, owning 1,052,768 shares worth 11.13 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for PRVB since 6 analysts follow the stock currently. There are 6 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With PRVB analysts setting a high price target of $30.00 and a low target of $15.00, the average target price over the next 12 months is $19.33. Based on these targets, PRVB could surge 231.86% to reach the target high and rise by 65.93% to reach the target low. Reaching the average price target will result in a growth of 113.83% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. PRVB will report FY 2022 earnings on 02/22/2024. Analysts have provided yearly estimates in a range of -$1.30 being high and -$2.50 being low. For PRVB, this leads to a yearly average estimate of -$1.74. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. Provention Bio Inc. surprised analysts by $0.08 when it reported -$0.34 EPS against a consensus estimate of -$0.42. The surprise factor in the prior quarter was $0.04. Based on analyst estimates, the high estimate for the next quarter is -$0.11 and the low estimate is -$1.23. The average estimate for the next quarter is thus -$0.52.
Summary of Insider Activity:
Insiders traded PRVB stock several times over the past three months with 3 Buys and 3 Sells. In these transactions, 12,617 shares were bought while 12,617 shares were sold. The number of buy transactions has increased to 3 while that of sell transactions has risen to 3 over the past year. The total number of shares bought during that period was 12,617 while 12,617 shares were sold.