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

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

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on PRVA shares. Macquarie assumed coverage on Privia Health Group in a report on Monday, December 16th. They set an “outperform” rating and a $25.00 price target for the company. Needham & Company LLC initiated coverage on shares of Privia Health Group in a research note on Friday, January 10th. They issued a “buy” rating and a $25.00 target price for the company. JPMorgan Chase & Co. boosted their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the stock an “overweight” rating in a research report on Friday, November 29th. Barclays raised their price target on shares of Privia Health Group from $19.00 to $21.00 and gave the company an “equal weight” rating in a report on Friday, November 8th. Finally, Truist Financial upped their price objective on shares of Privia Health Group from $24.00 to $27.00 and gave the stock a “buy” rating in a report on Friday, November 8th. Two investment analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $24.88.

Privia Health Group Trading Up 5.9 %

The stock has a fifty day simple moving average of $21.37 and a 200-day simple moving average of $20.12. The stock has a market cap of $2.86 billion, a price-to-earnings ratio of 238.32, a price-to-earnings-growth ratio of 3.07 and a beta of 0.87.

Institutional Investors Weigh In On Privia Health Group

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC raised its stake in Privia Health Group by 1.5% during the 3rd quarter. FMR LLC now owns 18,169,043 shares of the company’s stock valued at $330,858,000 after purchasing an additional 271,645 shares during the last quarter. Riverbridge Partners LLC increased its holdings in shares of 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 purchasing an additional 958,418 shares during the period. Geode Capital Management LLC raised its position in shares of Privia Health Group by 1.0% during the third quarter. Geode Capital Management LLC now owns 2,415,022 shares of the company’s stock valued at $43,986,000 after buying an additional 23,178 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of Privia Health Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company’s stock valued at $23,092,000 after buying an additional 28,480 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in Privia Health Group by 6.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,133,873 shares of the company’s stock worth $22,167,000 after buying an additional 69,649 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.