ProKidney (NASDAQ:PROK) Stock Price Up 5.9% – What’s Next?

ProKidney Corp. (NASDAQ:PROK) shares rose 5.9% during trading on Monday . The stock traded as high as $1.91 and last traded at $1.90. Approximately 30,508 shares traded hands during trading, a decline of 96% from the average daily volume of 685,912 shares. The stock had previously closed at $1.80.

Wall Street Analysts Forecast Growth

PROK has been the subject of several recent research reports. JPMorgan Chase & Co. initiated coverage on shares of ProKidney in a report on Monday, September 30th. They set a “neutral” rating for the company. Guggenheim assumed coverage on shares of ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price target for the company. Finally, Bank of America cut their price target on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, ProKidney has a consensus rating of “Hold” and a consensus target price of $4.50.

ProKidney Stock Performance

The stock has a market capitalization of $570.20 million, a P/E ratio of -3.65 and a beta of 1.27. The firm’s fifty day simple moving average is $1.84 and its 200 day simple moving average is $2.20.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). Analysts anticipate that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Insider Transactions at ProKidney

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total transaction of $41,030.00. Following the completion of the sale, the insider now owns 103,480 shares in the company, valued at approximately $258,700. The trade was a 13.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 41.49% of the company’s stock.

Hedge Funds Weigh In On ProKidney

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC purchased a new position in ProKidney during the 2nd quarter worth $50,000. XTX Topco Ltd purchased a new position in shares of ProKidney in the 3rd quarter worth about $41,000. Intech Investment Management LLC purchased a new position in shares of ProKidney in the 3rd quarter worth about $46,000. The Manufacturers Life Insurance Company purchased a new position in shares of ProKidney in the 2nd quarter worth about $60,000. Finally, Castleview Partners LLC purchased a new position in shares of ProKidney in the 3rd quarter worth about $63,000. 51.59% of the stock is owned by hedge funds and other 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.