ProKidney (NASDAQ:PROK) Trading Down 6.6% – Time to Sell?

Shares of ProKidney Corp. (NASDAQ:PROK) fell 6.6% on Tuesday . The company traded as low as $1.97 and last traded at $1.99. 159,731 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 698,210 shares. The stock had previously closed at $2.13.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Bank of America decreased their price objective on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. JPMorgan Chase & Co. assumed coverage on ProKidney in a research note on Monday, September 30th. They issued a “neutral” rating for the company. Finally, Guggenheim started coverage on ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price target on the stock. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, ProKidney presently has a consensus rating of “Hold” and an average target price of $4.50.

ProKidney Price Performance

The business’s fifty day moving average is $1.82 and its two-hundred day moving average is $2.31.

ProKidney (NASDAQ:PROK) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). As a group, analysts anticipate that ProKidney Corp. will post -0.57 earnings per share for the current year.

Insider Activity at ProKidney

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $2.50, for a total value of $41,030.00. Following the transaction, the insider now owns 103,480 shares of the company’s stock, valued at approximately $258,700. This represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 41.49% of the stock is owned by insiders.

Institutional Trading of ProKidney

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC bought a new stake in shares of ProKidney during the 2nd quarter valued at $50,000. XTX Topco Ltd bought a new stake in ProKidney during the third quarter valued at about $41,000. Intech Investment Management LLC purchased a new stake in ProKidney in the third quarter worth about $46,000. The Manufacturers Life Insurance Company bought a new position in shares of ProKidney in the second quarter worth about $60,000. Finally, Castleview Partners LLC purchased a new position in shares of ProKidney during the 3rd quarter valued at about $63,000. 51.59% of the stock is currently owned by institutional investors.

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.