Privia Health Group (NASDAQ:PRVA) Reaches New 1-Year High – Here’s What Happened

Privia Health Group, Inc. (NASDAQ:PRVA) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $23.86 and last traded at $23.83, with a volume of 876142 shares changing hands. The stock had previously closed at $22.50.

Analyst Ratings Changes

A number of analysts have commented on the stock. Barclays boosted 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 research report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on Privia Health Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a report on Friday, November 29th. Needham & Company LLC started coverage on Privia Health Group in a research report on Friday, January 10th. They issued a “buy” rating and a $25.00 target price for the company. Stephens reiterated an “overweight” rating and set a $26.00 price target on shares of Privia Health Group in a research report on Thursday, January 2nd. Finally, Truist Financial upped their price objective on Privia Health Group from $24.00 to $27.00 and gave the company a “buy” rating in a report on Friday, November 8th. Two equities research analysts have rated the stock with a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $24.88.

Privia Health Group Stock Performance

The firm’s 50 day simple moving average is $21.37 and its 200-day simple moving average is $20.12. The company has a market capitalization of $2.86 billion, a price-to-earnings ratio of 238.32, a P/E/G ratio of 3.07 and a beta of 0.87.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of PRVA. Riverbridge Partners LLC boosted its position in Privia Health Group by 19.7% during the 4th quarter. Riverbridge Partners LLC now owns 5,824,458 shares of the company’s stock worth $113,868,000 after acquiring an additional 958,418 shares during the period. Eventide Asset Management LLC boosted its holdings in shares of Privia Health Group by 979.2% during the third quarter. Eventide Asset Management LLC now owns 822,438 shares of the company’s stock worth $14,977,000 after purchasing an additional 746,231 shares during the period. Icon Wealth Advisors LLC increased its stake in Privia Health Group by 1,910.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 300,889 shares of the company’s stock valued at $5,479,000 after buying an additional 285,920 shares during the period. FMR LLC increased its stake in Privia Health Group by 1.5% in the 3rd quarter. FMR LLC now owns 18,169,043 shares of the company’s stock valued at $330,858,000 after buying an additional 271,645 shares during the period. Finally, Barclays PLC lifted its position in Privia Health Group by 240.3% in the 3rd quarter. Barclays PLC now owns 224,018 shares of the company’s stock worth $4,079,000 after buying an additional 158,188 shares in the last quarter. 94.48% of the stock is owned by institutional investors and hedge funds.

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.