Provention Bio (PRVB) Stock Shows Wild Moves: What’s Going On?

This past Friday, the Provention Bio Inc (NASDAQ: PRVB) stock was one of the notable losers as it slumped by as much as 18%. However, it should be noted that the stock eventually recovered from having fallen to $6.36 a share and eventually closed the day at $8 a share.

The decline in the stock came about after the company provided a key update with regards to the Biologics License Application in relation to its product teplizumab. The product in question is meant for delaying the onset of Type 1 diabetes for patients who may be at risk.

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However, that is not all. Gregory Renza, who is an analyst with the firm RBC Capital, also downgraded the stock to sector perform from outperform. In addition to that, Renza set the target price at $10 a share. The previous target price had been $25 a share. It now remains to be seen if the stock can make a recovery this week.

Asan Abdiev

CEO and Editor in Chief. Living in the era of dynamic tech change Asan decided to stay tuned in changes that make any person find comfort and adapt to new devices. Furthermore, gaming became his passion for spending leisure time with his close ones. Although, he has a degree in Business Administration (majoring Finance) writing for technology and as well as finance has been one of the precious aspects of his life