Provention Bio Inc (NASDAQ:PRVB) Short Interest Update

Provention Bio Inc (NASDAQ:PRVB) was the recipient of a significant growth in short interest during the month of June. As of June 30th, there was short interest totalling 1,023,000 shares, a growth of 27.3% from the May 30th total of 803,900 shares. Based on an average trading volume of 829,600 shares, the days-to-cover ratio is presently 1.2 days. Approximately 4.2% of the shares of the stock are sold short.

A number of research analysts have recently commented on the stock. Chardan Capital assumed coverage on shares of Provention Bio in a report on Monday, June 10th. They issued a “buy” rating and a $20.00 target price for the company. Zacks Investment Research cut shares of G1 Therapeutics from a “buy” rating to a “hold” rating in a report on Thursday, May 16th. Finally, HC Wainwright reissued a “buy” rating on shares of ACASTI PHARM-TS in a report on Wednesday, June 26th. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Provention Bio currently has an average rating of “Buy” and a consensus price target of $12.19.

In related news, insider Ashleigh Palmer bought 4,000 shares of the company’s stock in a transaction dated Tuesday, June 18th. The stock was purchased at an average price of $10.83 per share, with a total value of $43,320.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Anthony Digiandomenico bought 25,000 shares of the company’s stock in a transaction dated Monday, June 17th. The stock was bought at an average cost of $12.16 per share, with a total value of $304,000.00. The disclosure for this purchase can be found here. Insiders bought 39,000 shares of company stock valued at $456,920 in the last three months. Company insiders own 19.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of PRVB. BlackRock Inc. increased its stake in shares of Provention Bio by 26.4% during the 4th quarter. BlackRock Inc. now owns 26,235 shares of the company’s stock worth $46,000 after purchasing an additional 5,472 shares during the last quarter. Lido Advisors LLC acquired a new position in shares of Provention Bio during the 4th quarter worth $47,000. Finally, Silverleafe Capital Partners LLC acquired a new position in shares of Provention Bio during the 1st quarter worth $46,000. Institutional investors and hedge funds own 1.77% of the company’s stock.

NASDAQ PRVB traded up $0.73 during trading hours on Friday, reaching $12.00. The company’s stock had a trading volume of 292,729 shares, compared to its average volume of 552,451. The company’s fifty day simple moving average is $9.22. The firm has a market capitalization of $448.32 million and a PE ratio of -10.08. Provention Bio has a 52 week low of $1.52 and a 52 week high of $22.82.

Provention Bio (NASDAQ:PRVB) last issued its quarterly earnings data on Wednesday, May 8th. The company reported ($0.29) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.18) by ($0.11). As a group, sell-side analysts expect that Provention Bio will post -1.19 earnings per share for the current year.

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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