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

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

A number of other brokerages have also issued reports on PRVA. Royal Bank of Canada reaffirmed an “outperform” rating and set a $28.00 target price on shares of Privia Health Group in a research report on Wednesday, August 14th. Barclays boosted 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. Truist Financial increased their target price on shares of Privia Health Group from $24.00 to $27.00 and gave the company a “buy” rating in a research note on Friday, November 8th. Robert W. Baird boosted their price target on Privia Health Group from $23.00 to $24.00 and gave the company an “outperform” rating in a research note on Monday, August 26th. Finally, KeyCorp began coverage on Privia Health Group in a research report on Friday, October 11th. They issued 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 issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, Privia Health Group presently has a consensus rating of “Buy” and a consensus price target of $24.93.

Privia Health Group Stock Performance

Privia Health Group stock opened at $21.48 on Friday. Privia Health Group has a 52 week low of $15.92 and a 52 week high of $24.30. The firm has a market capitalization of $2.58 billion, a PE ratio of 214.82, a PEG ratio of 5.45 and a beta of 0.76. The business’s 50-day simple moving average is $19.24 and its 200-day simple moving average is $18.70.

Insider Activity

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

Hedge Funds Weigh In On Privia Health Group

A number of institutional investors and hedge funds have recently bought and sold shares of PRVA. Canada Pension Plan Investment Board bought a new position in shares of Privia Health Group in the second quarter valued at about $26,000. Nisa Investment Advisors LLC lifted its position in shares of Privia Health Group by 107.5% during the second quarter. Nisa Investment Advisors LLC now owns 1,795 shares of the company’s stock worth $31,000 after purchasing an additional 930 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Privia Health Group by 98.7% during the third quarter. GAMMA Investing LLC now owns 1,701 shares of the company’s stock worth $31,000 after purchasing an additional 845 shares in the last quarter. Signaturefd LLC grew its stake in shares of Privia Health Group by 46.3% during the second quarter. Signaturefd LLC now owns 1,978 shares of the company’s stock valued at $34,000 after purchasing an additional 626 shares during the last quarter. Finally, Quarry LP increased its holdings in shares of Privia Health Group by 344.6% in the third quarter. Quarry LP now owns 3,268 shares of the company’s stock valued at $60,000 after purchasing an additional 2,533 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.