Privia Health Group (NASDAQ:PRVA) Shares Down 5.2% - Should You Sell?

Privia Health Group, Inc. (NASDAQ:PRVA - Get Free Report)'s stock price dropped 5.2% during trading on Tuesday . The company traded as low as $20.53 and last traded at $20.74. Approximately 139,032 shares were traded during trading, a decline of 83% from the average daily volume of 834,722 shares. The stock had previously closed at $21.87.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on PRVA shares. Barclays boosted their price target on Privia Health Group from $19.00 to $21.00 and gave the stock an "equal weight" rating in a report on Friday, November 8th. JPMorgan Chase & Co. boosted their target price on shares of Privia Health Group from $27.00 to $28.00 and gave the company an "overweight" rating in a research note on Friday, November 29th. Truist Financial raised their price target on shares of Privia Health Group from $24.00 to $27.00 and gave the stock a "buy" rating in a research note on Friday, November 8th. Robert W. Baird lifted their price target on shares of Privia Health Group from $23.00 to $24.00 and gave the stock an "outperform" rating in a report on Monday, August 26th. Finally, Macquarie started coverage on shares of Privia Health Group in a research note on Monday. They set an "outperform" rating and a $25.00 price objective on the stock. Two equities research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus price target of $24.80.

Privia Health Group Stock Down 4.9 %

The company has a market capitalization of $2.49 billion, a price-to-earnings ratio of 207.92, a price-to-earnings-growth ratio of 5.45 and a beta of 0.83. The company has a 50 day simple moving average of $20.12 and a 200 day simple moving average of $19.10.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Millennium Management LLC boosted its position in shares of Privia Health Group by 2,994.2% in the second quarter. Millennium Management LLC now owns 1,138,526 shares of the company's stock worth $19,788,000 after buying an additional 1,101,730 shares during the period. Eventide Asset Management LLC lifted its position in Privia Health Group by 979.2% during the 3rd quarter. Eventide Asset Management LLC now owns 822,438 shares of the company's stock worth $14,977,000 after acquiring an additional 746,231 shares in the last quarter. Icon Wealth Advisors LLC boosted its holdings in Privia Health Group by 1,910.1% in the 3rd quarter. Icon Wealth Advisors LLC now owns 300,889 shares of the company's stock worth $5,479,000 after acquiring an additional 285,920 shares during the period. FMR LLC grew its position in Privia Health Group by 1.5% in the third quarter. FMR LLC now owns 18,169,043 shares of the company's stock valued at $330,858,000 after acquiring an additional 271,645 shares in the last quarter. Finally, BlackBarn Capital Partners LP raised its stake in shares of Privia Health Group by 100.0% during the second quarter. BlackBarn Capital Partners LP now owns 400,000 shares of the company's stock valued at $6,952,000 after purchasing an additional 200,000 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.

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.