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

Privia Health Group, Inc. (NASDAQ:PRVA) shares hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $25.80 and last traded at $25.67, with a volume of 211418 shares trading hands. The stock had previously closed at $24.06.

Analyst Ratings Changes

PRVA has been the topic of several research reports. Needham & Company LLC boosted their target price on Privia Health Group from $25.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. Macquarie assumed coverage on Privia Health Group in a research note on Monday, December 16th. They issued an “outperform” rating and a $25.00 target price on the stock. Stephens reiterated an “overweight” rating and set a $26.00 price objective on shares of Privia Health Group in a research note on Thursday, January 2nd. Canaccord Genuity Group boosted their price objective on Privia Health Group from $29.00 to $30.00 and gave the company a “buy” rating in a research note on Friday. Finally, JMP Securities reiterated a “market outperform” rating and set a $26.00 price objective on shares of Privia Health Group in a research note on Friday, February 14th. One equities research analyst has rated the stock with a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Privia Health Group currently has a consensus rating of “Buy” and an average target price of $26.59.

Privia Health Group Stock Down 1.9 %

The company has a 50-day moving average of $22.40 and a 200 day moving average of $20.59. The firm has a market capitalization of $3.00 billion, a PE ratio of 249.72, a PEG ratio of 3.47 and a beta of 0.87.

Hedge Funds Weigh In On Privia Health Group

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Quadrant Capital Group LLC boosted its holdings in shares of Privia Health Group by 11.8% in the 4th quarter. Quadrant Capital Group LLC now owns 4,855 shares of the company’s stock worth $95,000 after purchasing an additional 511 shares in the last quarter. Park Avenue Securities LLC boosted its holdings in shares of Privia Health Group by 3.8% in the 4th quarter. Park Avenue Securities LLC now owns 14,697 shares of the company’s stock worth $287,000 after purchasing an additional 532 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Privia Health Group by 8.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,169 shares of the company’s stock worth $140,000 after purchasing an additional 533 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Privia Health Group by 53.8% in the 4th quarter. First Horizon Advisors Inc. now owns 1,807 shares of the company’s stock worth $35,000 after purchasing an additional 632 shares in the last quarter. Finally, Summit Investment Advisors Inc. boosted its holdings in shares of Privia Health Group by 6.8% in the 4th quarter. Summit Investment Advisors Inc. now owns 10,673 shares of the company’s stock worth $209,000 after purchasing an additional 678 shares in the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.