Privia Health Group (NASDAQ:PRVA) Hits New 52-Week High - What's Next?

Shares of Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $23.62 and last traded at $23.38, with a volume of 60834 shares trading hands. The stock had previously closed at $23.17.

Analyst Ratings Changes

PRVA has been the topic of a number of recent research reports. JPMorgan Chase & Co. raised their target price on Privia Health Group from $27.00 to $28.00 and gave the stock an "overweight" rating in a report on Friday, November 29th. Barclays upped their price target on Privia Health Group from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research report on Friday, November 8th. Stephens reaffirmed an "overweight" rating and set a $26.00 price objective on shares of Privia Health Group in a research report on Thursday, January 2nd. Macquarie assumed coverage on shares of Privia Health Group in a report on Monday, December 16th. They issued an "outperform" rating and a $25.00 target price for the company. Finally, Truist Financial lifted their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the company a "buy" rating in a report on Friday, November 8th. Two research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $24.88.

Privia Health Group Price Performance

The firm's 50-day moving average is $21.34 and its two-hundred day moving average is $20.09. The company has a market cap of $2.70 billion, a P/E ratio of 225.02, a PEG ratio of 3.07 and a beta of 0.87.

Institutional Trading of Privia Health Group

Several hedge funds have recently made changes to their positions in the business. FMR LLC increased its stake in Privia Health Group by 1.5% during the third quarter. FMR LLC now owns 18,169,043 shares of the company's stock worth $330,858,000 after acquiring an additional 271,645 shares during the last quarter. Riverbridge Partners LLC increased its position 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 valued at $113,868,000 after purchasing an additional 958,418 shares during the last quarter. Geode Capital Management LLC raised its holdings in Privia Health Group by 1.0% during the 3rd 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 period. Franklin Resources Inc. lifted its position in Privia Health Group by 2.2% in the third quarter. Franklin Resources Inc. now owns 1,300,240 shares of the company's stock worth $23,092,000 after buying an additional 28,480 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake 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 during the period. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

Privia Health Group Company Profile

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.