Privia Health Group (NASDAQ:PRVA) Reaches New 52-Week High - Should You Buy?

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report) 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.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the company. Stephens reissued an "overweight" rating and issued a $26.00 price target on shares of Privia Health Group in a report on Thursday, January 2nd. JMP Securities restated a "market outperform" rating and issued a $26.00 price objective on shares of Privia Health Group in a research note on Friday. Barclays raised their price objective on Privia Health Group from $19.00 to $21.00 and gave the stock an "equal weight" rating in a research note on Friday, November 8th. JPMorgan Chase & Co. raised their price objective on Privia Health Group from $27.00 to $28.00 and gave the stock an "overweight" rating in a research note on Friday, November 29th. Finally, Needham & Company LLC assumed coverage on Privia Health Group in a research note on Friday, January 10th. They issued a "buy" rating and a $25.00 price objective for the company. Two investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average target price of $24.94.

Privia Health Group Stock Up 1.5 %

The firm has a market capitalization of $3.03 billion, a PE ratio of 252.43, a PEG ratio of 3.07 and a beta of 0.87. The stock has a 50-day moving average price of $21.62 and a 200 day moving average price of $20.23.

Institutional Trading of Privia Health Group

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Quadrant Capital Group LLC increased its position in shares of Privia Health Group by 11.8% in the fourth quarter. Quadrant Capital Group LLC now owns 4,855 shares of the company's stock valued at $95,000 after buying an additional 511 shares in the last quarter. Park Avenue Securities LLC increased its position in shares of Privia Health Group by 3.8% in the fourth quarter. Park Avenue Securities LLC now owns 14,697 shares of the company's stock valued at $287,000 after buying an additional 532 shares in the last quarter. PNC Financial Services Group Inc. increased its position in shares of Privia Health Group by 8.0% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,169 shares of the company's stock valued at $140,000 after buying an additional 533 shares in the last quarter. Sequoia Financial Advisors LLC increased its position in shares of Privia Health Group by 2.3% in the third quarter. Sequoia Financial Advisors LLC now owns 26,246 shares of the company's stock valued at $478,000 after buying an additional 583 shares in the last quarter. Finally, First Horizon Advisors Inc. boosted its stake in shares of Privia Health Group by 53.8% in the fourth quarter. First Horizon Advisors Inc. now owns 1,807 shares of the company's stock worth $35,000 after acquiring an additional 632 shares during the last quarter. 94.48% of the stock is currently owned by hedge funds and other institutional investors.

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.