JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Privia Health Group (NASDAQ:PRVA) Stock

Privia Health Group (NASDAQ:PRVA) had its price objective lifted by equities research analysts at JPMorgan Chase & Co. from $27.00 to $28.00 in a report issued on Friday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective indicates a potential upside of 30.35% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Truist Financial upped their target price on shares of Privia Health Group from $24.00 to $27.00 and gave the stock a “buy” rating in a research note on Friday, November 8th. Royal Bank of Canada reiterated an “outperform” rating and issued a $28.00 target price on shares of Privia Health Group in a research note on Wednesday, August 14th. KeyCorp initiated coverage on shares of Privia Health Group in a research note on Friday, October 11th. They issued an “overweight” rating and a $23.00 target price on the stock. Robert W. Baird increased their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the company an “outperform” rating in a research report on Monday, August 26th. Finally, Barclays increased their price objective on shares of Privia Health Group from $19.00 to $21.00 and gave the company an “equal weight” rating in a research report on Friday, November 8th. Two analysts have rated the stock with a hold rating, twelve have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $24.93.

Privia Health Group Trading Down 0.8 %

PRVA traded down $0.18 during midday trading on Friday, reaching $21.48. The company’s stock had a trading volume of 315,101 shares, compared to its average volume of 853,228. The firm has a market capitalization of $2.58 billion, a price-to-earnings ratio of 214.82, a PEG ratio of 5.45 and a beta of 0.76. Privia Health Group has a 1 year low of $15.92 and a 1 year high of $24.30. The stock’s 50-day moving average is $19.14 and its 200-day moving average is $18.65.

Insiders Place Their Bets

In other news, CEO Parth Mehrotra sold 135,142 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $18.50, for a total value of $2,500,127.00. Following the completion of the sale, the chief executive officer now directly owns 247,771 shares of the company’s stock, valued at $4,583,763.50. This represents a 35.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 14.20% of the company’s stock.

Institutional Trading of Privia Health Group

Hedge funds and other institutional investors have recently modified their holdings of the company. FMR LLC grew its stake in Privia Health Group by 1.5% during the third quarter. FMR LLC now owns 18,169,043 shares of the company’s stock valued at $330,858,000 after acquiring an additional 271,645 shares in the last quarter. Geode Capital Management LLC grew its stake in Privia Health Group by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,415,022 shares of the company’s stock valued at $43,986,000 after acquiring an additional 23,178 shares in the last quarter. Franklin Resources Inc. grew its stake in Privia Health Group by 2.2% during the third quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company’s stock valued at $23,092,000 after acquiring an additional 28,480 shares in the last quarter. Millennium Management LLC grew its stake in Privia Health Group by 2,994.2% during the second quarter. Millennium Management LLC now owns 1,138,526 shares of the company’s stock valued at $19,788,000 after acquiring an additional 1,101,730 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in Privia Health Group by 18.4% during the second quarter. Dimensional Fund Advisors LP now owns 1,118,619 shares of the company’s stock valued at $19,441,000 after acquiring an additional 173,934 shares in the last quarter. 94.48% of the stock is owned by hedge funds and other institutional investors.

Privia Health Group Company Profile

Privia Health Group, Inc operates as a national physician-enablement company in the United States. The company collaborates with medical groups, health plans, and health systems to optimize physician practices, enhance patient experiences, and reward doctors for delivering care in-person and virtual settings.