ProKidney (NASDAQ:PROK) Shares Up 8.1%

ProKidney Corp. (NASDAQ:PROK) shares shot up 8.1% during trading on Tuesday . The company traded as high as $2.41 and last traded at $2.39. 152,836 shares were traded during trading, a decline of 80% from the average session volume of 778,856 shares. The stock had previously closed at $2.21.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PROK shares. Jefferies Financial Group cut their price objective on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Bank of America boosted their price target 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 Stock Down 4.0 %

The firm has a market capitalization of $550.42 million, a PE ratio of -4.21 and a beta of 1.10. The stock has a 50-day simple moving average of $2.95 and a 200-day simple moving average of $2.10.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data 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. Equities analysts forecast that ProKidney Corp. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Control Empresarial De Capital acquired 8,264,462 shares of the business’s stock in a transaction dated Tuesday, June 11th. The stock was bought at an average cost of $2.42 per share, for a total transaction of $19,999,998.04. Following the completion of the transaction, the insider now owns 71,560,107 shares of the company’s stock, valued at $173,175,458.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Darin J. Weber sold 16,438 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $2.51, for a total value of $41,259.38. Following the transaction, the senior vice president now owns 155,194 shares of the company’s stock, valued at approximately $389,536.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Control Empresarial De Capital bought 8,264,462 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was bought at an average price of $2.42 per share, with a total value of $19,999,998.04. Following the completion of the transaction, the insider now directly owns 71,560,107 shares of the company’s stock, valued at approximately $173,175,458.94. The disclosure for this purchase can be found here. Insiders have sold a total of 135,817 shares of company stock worth $302,216 over the last ninety days. Company insiders own 41.49% of the company’s stock.

Institutional Investors Weigh In On ProKidney

A number of institutional investors have recently made changes to their positions in PROK. Zullo Investment Group Inc. purchased a new position in ProKidney in the 1st quarter worth approximately $32,000. Federated Hermes Inc. increased its stake in shares of ProKidney by 10,984.7% in the fourth 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 raised its holdings in ProKidney by 174.2% during the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock valued at $83,000 after buying an additional 29,749 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

ProKidney Company Profile

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.