Privia Health Group, Inc. $PRVA Shares Purchased by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB boosted its position in Privia Health Group, Inc. (NASDAQ:PRVA) by 113.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 194,189 shares of the company’s stock after purchasing an additional 103,000 shares during the quarter. Rhenman & Partners Asset Management AB owned about 0.16% of Privia Health Group worth $4,835,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in PRVA. Canada Pension Plan Investment Board raised its position in shares of Privia Health Group by 48.0% in the second quarter. Canada Pension Plan Investment Board now owns 3,700 shares of the company’s stock valued at $85,000 after buying an additional 1,200 shares during the last quarter. Raymond James Financial Inc. acquired a new position in Privia Health Group during the second quarter worth about $113,000. Covestor Ltd boosted its position in Privia Health Group by 39.8% during the third quarter. Covestor Ltd now owns 5,824 shares of the company’s stock worth $145,000 after acquiring an additional 1,657 shares during the last quarter. Acadian Asset Management LLC purchased a new stake in Privia Health Group during the 1st quarter valued at about $154,000. Finally, CWM LLC raised its holdings in Privia Health Group by 94.2% in the 3rd quarter. CWM LLC now owns 6,634 shares of the company’s stock valued at $165,000 after acquiring an additional 3,218 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.

Insider Activity

In other news, Director Matthew Shawn Morris sold 16,550 shares of the firm’s stock in a transaction that occurred on Friday, February 27th. The shares were sold at an average price of $25.00, for a total value of $413,750.00. Following the completion of the transaction, the director owned 68,188 shares of the company’s stock, valued at approximately $1,704,700. This trade represents a 19.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO David Mountcastle sold 23,887 shares of Privia Health Group stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $25.03, for a total transaction of $597,891.61. Following the completion of the transaction, the chief financial officer owned 172,909 shares of the company’s stock, valued at $4,327,912.27. This trade represents a 12.14% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 74,930 shares of company stock worth $1,874,410. 10.70% of the stock is owned by corporate insiders.

Privia Health Group Stock Down 2.4%

Shares of NASDAQ PRVA opened at $23.27 on Friday. The business’s 50 day moving average is $23.04 and its two-hundred day moving average is $23.57. Privia Health Group, Inc. has a 52-week low of $18.77 and a 52-week high of $26.51. The firm has a market cap of $2.88 billion, a price-to-earnings ratio of 136.88, a PEG ratio of 1.56 and a beta of 0.82.

Privia Health Group (NASDAQ:PRVA) last released its quarterly earnings results on Thursday, February 26th. The company reported $0.25 EPS for the quarter, topping the consensus estimate of $0.04 by $0.21. Privia Health Group had a return on equity of 3.06% and a net margin of 1.08%.The business had revenue of $541.17 million during the quarter, compared to analyst estimates of $516.61 million. During the same period last year, the business posted $0.21 earnings per share. The company’s quarterly revenue was up 17.4% on a year-over-year basis. Analysts anticipate that Privia Health Group, Inc. will post 0.14 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Truist Financial boosted their target price on Privia Health Group from $31.00 to $33.00 and gave the stock a “buy” rating in a report on Monday, March 2nd. Barclays increased their price target on Privia Health Group from $22.00 to $23.00 and gave the company an “equal weight” rating in a report on Monday, November 10th. Wolfe Research set a $31.00 price objective on Privia Health Group in a research note on Tuesday, January 6th. Jefferies Financial Group reaffirmed a “buy” rating and issued a $32.00 target price on shares of Privia Health Group in a research note on Thursday, February 26th. Finally, Canaccord Genuity Group boosted their price target on shares of Privia Health Group from $34.00 to $35.00 and gave the company a “buy” rating in a research report on Friday, February 27th. Thirteen research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $31.00.

About Privia Health Group

Privia Health Group (NASDAQ: PRVA) is a physician enablement company that partners with independent physicians, medical groups and health systems to transform the delivery of patient care. Through a clinically integrated network and a proprietary technology platform, the company supports providers in managing population health, delivering coordinated care and optimizing financial performance under both fee-for-service and value-based reimbursement models.

Founded in 2016 and headquartered in McLean, Virginia, Privia Health has rapidly expanded its footprint to serve multiple metropolitan markets across the United States.