ProKidney (NASDAQ:PROK) Stock Price Up 7%

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

Analyst Ratings Changes

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

ProKidney Trading Up 7.9 %

The company has a 50-day moving average of $2.95 and a 200-day moving average of $2.06. The company has a market capitalization of $561.88 million, a price-to-earnings ratio of -4.26 and a beta of 1.21.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Friday, May 10th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.25) by $0.09. On average, research analysts expect that ProKidney Corp. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In related news, SVP Darin J. Weber sold 84,103 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $1.73, for a total value of $145,498.19. Following the completion of the sale, the senior vice president now owns 189,670 shares of the company’s stock, valued at $328,129.10. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, SVP Darin J. Weber sold 84,103 shares of the firm’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $1.73, for a total transaction of $145,498.19. Following the completion of the transaction, the senior vice president now directly owns 189,670 shares in the company, valued at $328,129.10. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Pablo G. Legorreta bought 22,617,909 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was bought at an average price of $2.42 per share, with a total value of $54,735,339.78. Following the completion of the acquisition, the director now owns 22,617,909 shares of the company’s stock, valued at approximately $54,735,339.78. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 136,117 shares of company stock worth $302,723. 41.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ProKidney

A number of institutional investors have recently added to or reduced their stakes in the business. Federated Hermes Inc. boosted its stake 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 acquiring an additional 112,264 shares in the last quarter. SG Americas Securities LLC raised its holdings in ProKidney by 174.2% in the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock valued at $83,000 after acquiring an additional 29,749 shares during the last quarter. Finally, Zullo Investment Group Inc. acquired a new position in ProKidney in the 1st quarter valued at $32,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

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.