ProKidney (NASDAQ:PROK) Stock Price Up 7%

ProKidney Corp. (NASDAQ:PROK) was up 7% during trading on Thursday . The company traded as high as $2.43 and last traded at $2.43. Approximately 68,660 shares were traded during mid-day trading, a decline of 91% from the average daily volume of 769,277 shares. The stock had previously closed at $2.27.

Analyst Upgrades and Downgrades

A number of analysts recently commented on PROK shares. Jefferies Financial Group dropped their target price on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Morgan Stanley started coverage on shares of ProKidney in a report on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 target price on the stock. Finally, Bank of America boosted their target price on shares of ProKidney from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, May 29th.

ProKidney Price Performance

The stock’s fifty day moving average price is $2.95 and its 200-day moving average price is $2.06. The firm has a market cap of $561.88 million, a price-to-earnings ratio of -4.26 and a beta of 1.21.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. As a group, equities research analysts predict that ProKidney Corp. will post -0.56 EPS for the current fiscal year.

Insider Buying and Selling at ProKidney

In other ProKidney news, SVP Darin J. Weber sold 17,238 shares of the company’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total value of $43,095.00. Following the transaction, the senior vice president now owns 172,432 shares in the company, valued at approximately $431,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other ProKidney news, SVP Darin J. Weber sold 17,238 shares of the business’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total value of $43,095.00. Following the completion of the sale, the senior vice president now directly owns 172,432 shares of the company’s stock, valued at $431,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Pablo G. Legorreta bought 22,617,909 shares of the firm’s stock in a transaction on Thursday, June 13th. The stock was acquired at an average cost of $2.42 per share, with a total value of $54,735,339.78. Following the completion of the transaction, the director now directly owns 22,617,909 shares of the company’s stock, valued at $54,735,339.78. The disclosure for this purchase can be found here. In the last quarter, insiders have sold 136,117 shares of company stock worth $302,723. 41.49% of the stock is currently owned by company insiders.

Institutional Trading of ProKidney

Several large investors have recently added to or reduced their stakes in the business. Zullo Investment Group Inc. bought a new stake in ProKidney in the first quarter worth approximately $32,000. Federated Hermes Inc. boosted its holdings in shares of ProKidney by 10,984.7% during the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after buying an additional 112,264 shares during the period. Finally, SG Americas Securities LLC boosted its holdings in shares of ProKidney by 174.2% during the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock worth $83,000 after buying an additional 29,749 shares during the period. 51.59% of the stock is owned by institutional investors.

About ProKidney

ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases in the United States. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture, which has completed Phase I clinical trial for REACT in patients with congenital anomalies of the Kidney and Urinary Tract (CAKUT), as well as in Phase III and Phase II clinical trials for the treatment of moderate to severe diabetic kidney disease.