Why Provention Bio Inc. (NASDAQ: PRVB) Is A Stock Not To Be Discarded In 2021

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In the last trading session, 1.26 million shares of the Provention Bio Inc. (NASDAQ:PRVB) were traded, and its beta was 2.83. Most recently the company’s share price was $7.18, and it changed around $0.0 or 0.00% from the last close, which brings the market valuation of the company to $473.23M. PRVB currently trades at a discount to its 52-week high of $20.05, offering almost -179.25% off that amount. The share price’s 52-week low was $5.59, which indicates that the current value has risen by an impressive 22.14% since then. We note from Provention Bio Inc.’s average daily trading volume that its 10-day average is 1.16 million shares, with the 3-month average coming to 529.52K.

Provention Bio Inc. stock received a consensus recommendation rating of a Buy, based on a mean score of 2.00. If we narrow it down even further, the data shows that 0 out of 7 analysts rate the stock as a Sell; another 0 rate it as Overweight. Among the rest, 1 recommended PRVB as a Hold, whereas 6 deemed it a Buy, and 0 rated it as Underweight. Provention Bio Inc. is expected to report earnings per share of -$0.51 for the current quarter.

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Instantly PRVB has showed a red trend with a performance of 0.00% at the end of last trading. The performance over the last five days has remained in the green territory. The rise to weekly highs of 7.72 on Tuesday, 11/23/21 increased the stock’s daily price by 6.99%. The company’s shares are currently down -57.62% year-to-date, but still up 5.74% over the last five days. On the other hand, Provention Bio Inc. (NASDAQ:PRVB) is 15.06% up in the 30-day period. We can see from the shorts that 4.55 million shares have been sold at a short interest cover period of 2.79 day(s).

The consensus price target as assigned by Wall Street analysts is $16.64, which translates to bulls needing to increase their stock price by 56.85% from its current value. Analyst projections state that PRVB is forecast to be at a low of $8.00 and a high of $25.00. In order for the stock price to hit the forecast high, the stock would need to plunge -248.19% from its current level, while the stock would need to crash -11.42% from its current level to reach the projected low.

Provention Bio Inc. (PRVB) estimates and forecasts

Moreover, analysts have decided to roll up on their fiscal year 2021 revenue estimates. The rating firms predict that it will gain 8.90% in revenue this quarter, and will report a decrease of -6.90% in the next quarter.

Consensus estimates provided by 6 financial analysts predict the company will bring in an average of $1.25 million in revenue for the current quarter. 6 analysts expect Provention Bio Inc. to make $3.18 million in revenue for the quarter ending Dec 2021.

PRVB Dividends

Provention Bio Inc.’s next quarterly earnings report is expected to be released on May 06.

Provention Bio Inc. (NASDAQ:PRVB)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 19.02% of Provention Bio Inc. shares, and 40.01% of them are in the hands of institutional investors. The stock currently has a share float of 49.41%. Provention Bio Inc. stock is held by 178 institutions, with Blackrock Inc. being the largest institutional investor. By Jun 29, 2021, it held 7.18% of the shares, which is about 4.55 million shares worth $38.33 million.

VR Adviser, LLC, with 4.58% or 2.9 million shares worth $24.47 million as of Jun 29, 2021, holds the second largest percentage of outstanding shares.

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Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF were the top two Mutual Funds as of Mar 30, 2021. The former held 1.42 million shares worth $14.86 million, making up 2.23% of all outstanding shares. On the other hand, iShares Russell 2000 ETF held roughly 1.26 million shares worth around $10.64 million, which represents about 1.99% of the total shares outstanding.