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

Privia Health Group (NASDAQ:PRVA) had its price objective raised by JPMorgan Chase & Co. from $27.00 to $28.00 in a research note published on Friday,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Several other research analysts have also issued reports on PRVA. KeyCorp began coverage on Privia Health Group in a research report on Friday, October 11th. They set an “overweight” rating and a $23.00 target price for the company. Robert W. Baird raised their price objective on Privia Health Group from $23.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, August 26th. Truist Financial upped their target price on Privia Health Group from $24.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 8th. Barclays raised their price target 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. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $28.00 price objective on shares of Privia Health Group in a research note on Wednesday, August 14th. Two research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, Privia Health Group has a consensus rating of “Buy” and an average target price of $24.93.

Privia Health Group Stock Performance

Shares of NASDAQ PRVA opened at $21.48 on Friday. The firm has a 50 day moving average price of $19.24 and a two-hundred day moving average price of $18.70. The stock has a market cap of $2.58 billion, a P/E ratio of 214.82, a price-to-earnings-growth ratio of 5.40 and a beta of 0.76. Privia Health Group has a 52-week low of $15.92 and a 52-week high of $24.30.

Insider Activity at Privia Health Group

In related news, CEO Parth Mehrotra sold 135,142 shares of the stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $18.50, for a total value of $2,500,127.00. Following the transaction, the chief executive officer now directly owns 247,771 shares in the company, valued at $4,583,763.50. This trade represents a 35.29 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 14.20% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PRVA. Victory Capital Management Inc. increased its position in shares of Privia Health Group by 402.9% during the third quarter. Victory Capital Management Inc. now owns 179,049 shares of the company’s stock worth $3,260,000 after acquiring an additional 143,446 shares in the last quarter. GAMMA Investing LLC boosted its stake in Privia Health Group by 98.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,701 shares of the company’s stock valued at $31,000 after purchasing an additional 845 shares during the last quarter. Peregrine Capital Management LLC increased its holdings in Privia Health Group by 11.5% during the 2nd quarter. Peregrine Capital Management LLC now owns 314,190 shares of the company’s stock worth $5,461,000 after purchasing an additional 32,311 shares in the last quarter. Dynamic Technology Lab Private Ltd purchased a new stake in shares of Privia Health Group in the third quarter worth approximately $1,206,000. Finally, BlackBarn Capital Partners LP lifted its holdings in shares of Privia Health Group by 100.0% in the second quarter. BlackBarn Capital Partners LP now owns 400,000 shares of the company’s stock valued at $6,952,000 after purchasing an additional 200,000 shares in the last quarter. Institutional investors and hedge funds 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.