Privia Health Group (NASDAQ:PRVA) Shares Gap Up to $22.50

Shares of Privia Health Group, Inc. (NASDAQ:PRVA) gapped up before the market opened on Thursday . The stock had previously closed at $22.50, but opened at $23.34. Privia Health Group shares last traded at $24.02, with a volume of 2,614 shares changing hands.

PRVA has been the subject of several recent research reports. Zacks Investment Research upgraded Privia Health Group from a “sell” rating to a “hold” rating in a research report on Friday, August 20th. SVB Leerink began coverage on Privia Health Group in a research report on Monday, September 27th. They set an “outperform” rating and a $35.00 price target for the company. Cowen began coverage on Privia Health Group in a research report on Thursday, September 9th. They issued a “market perform” rating and a $31.00 price objective for the company. Truist cut their price objective on Privia Health Group from $40.00 to $32.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Piper Sandler boosted their price objective on Privia Health Group from $40.00 to $48.00 and gave the company an “overweight” rating in a research report on Wednesday, July 14th. Two analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $40.25.

The company has a debt-to-equity ratio of 0.08, a current ratio of 2.61 and a quick ratio of 2.61. The company has a 50 day moving average of $28.51.

Privia Health Group (NASDAQ:PRVA) last issued its quarterly earnings results on Monday, August 9th. The company reported ($1.68) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($1.48) by ($0.20). The firm had revenue of $225.76 million during the quarter, compared to analysts’ expectations of $214.76 million. As a group, research analysts predict that Privia Health Group, Inc. will post -1.78 EPS for the current fiscal year.

Several large investors have recently modified their holdings of the company. Emerald Mutual Fund Advisers Trust acquired a new position in Privia Health Group during the second quarter worth $8,776,000. New York State Common Retirement Fund acquired a new position in Privia Health Group during the second quarter worth $745,000. Ameritas Investment Partners Inc. acquired a new position in Privia Health Group during the second quarter worth $68,000. Sei Investments Co. acquired a new position in Privia Health Group during the second quarter worth $1,943,000. Finally, Teacher Retirement System of Texas acquired a new position in Privia Health Group during the second quarter worth $444,000. 53.69% of the stock is currently owned by hedge funds and other institutional investors.

About Privia Health Group (NASDAQ:PRVA)

Privia Health Group, Inc operates as a physician practice management and population health technology company in the United States. The company comprises regional medical groups, accountable care organizations, and specialty verticals. It offers technology and population health tools to enhance independent providers' workflows; management service organization that enables providers to reduce administrative work focus on their patients; single-TIN medical group that facilitates payer negotiation, clinical integration and alignment of financial incentives; physician-led accountable care organization, which engages patients, reduces inappropriate utilization, and enhances coordination and patient quality metrics to drive value-based care and transform the healthcare delivery system; and network for purchasers and payers.

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