ProKidney (NASDAQ:PROK) Trading 8.1% Higher

ProKidney Corp. (NASDAQ:PROK)’s share price was up 8.1% on Tuesday . The stock traded as high as $2.41 and last traded at $2.39. Approximately 152,836 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 778,856 shares. The stock had previously closed at $2.21.

Analyst Ratings Changes

A number of equities analysts have issued reports on PROK shares. Bank of America increased 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. Jefferies Financial Group decreased their target price on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 10th.

ProKidney Stock Performance

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

ProKidney (NASDAQ:PROK) last issued its quarterly earnings results on Friday, May 10th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.09. As a group, equities research analysts anticipate that ProKidney Corp. will post -0.56 EPS for the current year.

Insider Transactions at ProKidney

In other ProKidney news, insider Control Empresarial De Capital purchased 8,264,462 shares of the stock in a transaction that occurred on Tuesday, June 11th. The shares were purchased 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 approximately $173,175,458.94. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Control Empresarial De Capital purchased 8,264,462 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average price of $2.42 per share, with a total value of $19,999,998.04. Following the completion of the acquisition, the insider now owns 71,560,107 shares in the company, valued at $173,175,458.94. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Pablo G. Legorreta bought 22,617,909 shares of the company’s stock in a transaction 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 in the company, valued at $54,735,339.78. The disclosure for this purchase can be found here. Insiders sold 135,817 shares of company stock valued at $302,216 over the last 90 days. 41.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProKidney

Several hedge funds and other institutional investors have recently bought and sold shares of PROK. SG Americas Securities LLC boosted 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 purchasing an additional 29,749 shares during the last quarter. Federated Hermes Inc. raised its position 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 valued at $202,000 after buying an additional 112,264 shares during the period. Finally, Zullo Investment Group Inc. acquired a new position in ProKidney in the first quarter valued at approximately $32,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.