JPMorgan Chase & Co. Issues Positive Forecast for Privia Health Group (NASDAQ:PRVA) Stock Price

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

PRVA has been the subject of a number of other reports. Truist Financial boosted their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the company a “buy” rating in a research report on Friday, November 8th. Barclays lifted their price objective on shares of Privia Health Group from $19.00 to $21.00 and gave the stock an “equal weight” rating in a report on Friday, November 8th. Robert W. Baird lifted their price objective on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a report on Monday, August 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 price objective on shares of Privia Health Group in a report on Wednesday, August 14th. Finally, KeyCorp started coverage on shares of Privia Health Group in a report on Friday, October 11th. They set an “overweight” rating and a $23.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $24.93.

Privia Health Group Stock Performance

Privia Health Group stock traded down $0.18 during mid-day 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’s fifty day moving average price is $19.14 and its two-hundred day moving average price is $18.65. The company has a market capitalization of $2.58 billion, a P/E ratio of 214.82, a PEG ratio of 5.45 and a beta of 0.76. Privia Health Group has a 12-month low of $15.92 and a 12-month high of $24.30.

Insider Activity

In related news, CEO Parth Mehrotra sold 135,142 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $18.50, for a total transaction of $2,500,127.00. Following the transaction, the chief executive officer now owns 247,771 shares in the company, valued at $4,583,763.50. The trade was a 35.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 14.20% of the company’s stock.

Hedge Funds Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. increased its position in shares of 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 buying an additional 28,480 shares during the period. Virtu Financial LLC purchased a new position in shares of Privia Health Group during the third quarter valued at about $263,000. Neo Ivy Capital Management purchased a new position in shares of Privia Health Group during the third quarter valued at about $66,000. Geode Capital Management LLC increased its position in shares of 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 buying an additional 23,178 shares during the period. Finally, Barclays PLC increased its position in shares of Privia Health Group by 240.3% during the third quarter. Barclays PLC now owns 224,018 shares of the company’s stock valued at $4,079,000 after buying an additional 158,188 shares during the period. Hedge funds and other institutional investors own 94.48% of the company’s stock.

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.