PIII - Why Shares of P3 Health Partners Soared This Week
2023-06-01 15:59:19 ET
Shares of P3 Health Partners (NASDAQ: PIII) were up 18.4% for the week as of Thursday afternoon, after rising as much as 21%, according to data provided by S&P Global Market Intelligence . The stock closed at $3.47 last week and rose to as high as $4.29 on Tuesday. The stock is up more than 124% so far this year and was given a boost by a rash of insider buying.
P3 Health Partners is a physician-led health management company. It focuses on giving Medicare Advantage (MA) and commercial patients access to primary care and chronic-care management and has a network of 2,800 affiliated primary care providers in the U.S.
The healthcare company's shares jumped this week after private equity firm Chicago Pacific Founders, which was already a part owner in P3 Health Partners after providing P3's initial and growth capital, steadily made big buys of P3 shares on successive days. Chicago Pacific now owns 48,781,473 shares of the company.
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Why Shares of P3 Health Partners Soared This Week