Privia Health Group (NASDAQ:PRVA) Reaches New 52-Week High - What's Next?

Key Points

• Privia Health Group (NASDAQ:PRVA) reached a new 52-week high of $26.15 during trading, closing at $25.84 with a volume of 42,288 shares.
• Analysts have mixed ratings on the stock, with Piper Sandler lowering their price target while JMP Securities increased theirs, reflecting a consensus rating of "Moderate Buy" and an average target price of $28.91.
• Institutional investors hold approximately 94.48% of the shares, with several firms increasing their positions significantly during the first quarter of the year.

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $26.15 and last traded at $25.84, with a volume of 42288 shares changing hands. The stock had previously closed at $25.53.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on PRVA shares. Piper Sandler reduced their price objective on shares of Privia Health Group from $36.00 to $35.00 and set an "overweight" rating on the stock in a research report on Monday, August 11th. Stephens reiterated an "overweight" rating and set a $32.00 price objective on shares of Privia Health Group in a research note on Wednesday, September 24th. JMP Securities raised their price target on shares of Privia Health Group from $29.00 to $30.00 and gave the stock a "market outperform" rating in a report on Friday, August 29th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Privia Health Group in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of Privia Health Group from a "strong sell" rating to a "hold" rating in a research report on Tuesday, August 19th. Eleven investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Privia Health Group has a consensus rating of "Moderate Buy" and an average target price of $28.91.

Privia Health Group Trading Up 3.3%

The firm's fifty day simple moving average is $22.99 and its 200 day simple moving average is $22.54. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 240.06, a PEG ratio of 3.48 and a beta of 0.83.

Privia Health Group (NASDAQ:PRVA - Get Free Report) last issued its earnings results on Tuesday, June 7th. The company reported $0.10 earnings per share (EPS) for the quarter. The business had revenue of $213.61 million during the quarter. Privia Health Group had a net margin of 0.78% and a return on equity of 2.13%. As a group, sell-side analysts expect that Privia Health Group, Inc. will post 0.14 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its position in shares of Privia Health Group by 113.1% during the first quarter. GAMMA Investing LLC now owns 2,866 shares of the company's stock worth $64,000 after purchasing an additional 1,521 shares in the last quarter. Janney Montgomery Scott LLC grew its position in shares of Privia Health Group by 4.6% during the first quarter. Janney Montgomery Scott LLC now owns 55,371 shares of the company's stock worth $1,243,000 after acquiring an additional 2,413 shares during the last quarter. Oppenheimer Asset Management Inc. grew its position in shares of Privia Health Group by 9.0% during the first quarter. Oppenheimer Asset Management Inc. now owns 261,918 shares of the company's stock worth $5,880,000 after acquiring an additional 21,590 shares during the last quarter. Bessemer Group Inc. grew its position in Privia Health Group by 2,393.4% in the 1st quarter. Bessemer Group Inc. now owns 2,269 shares of the company's stock valued at $51,000 after buying an additional 2,178 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its position in Privia Health Group by 2.9% in the 1st quarter. Peregrine Capital Management LLC now owns 330,130 shares of the company's stock valued at $7,411,000 after buying an additional 9,362 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

About Privia Health Group

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.

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