ProKidney (NASDAQ:PROK) Trading Down 5.5%

ProKidney Corp. (NASDAQ:PROK) shares fell 5.5% on Tuesday . The company traded as low as $2.21 and last traded at $2.22. 78,274 shares were traded during trading, a decline of 90% from the average session volume of 746,828 shares. The stock had previously closed at $2.35.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on PROK. Bank of America boosted their target price on shares of ProKidney from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th. Jefferies Financial Group decreased their target price on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, June 10th.

ProKidney Stock Performance

The company has a market cap of $497.67 million, a PE ratio of -3.89 and a beta of 1.10. The firm’s 50 day moving average is $2.78 and its 200-day moving average is $2.15.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings data on Friday, May 10th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.25) by $0.09. On average, analysts predict that ProKidney Corp. will post -0.56 EPS for the current year.

Insider Activity

In other news, insider Darin J. Weber sold 17,238 shares of the firm’s stock in a transaction on Monday, May 20th. The shares were sold at an average price of $4.08, for a total value of $70,331.04. Following the completion of the sale, the insider now owns 137,956 shares in the company, valued at approximately $562,860.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other ProKidney news, insider Darin J. Weber sold 17,238 shares of ProKidney stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $4.08, for a total transaction of $70,331.04. Following the completion of the transaction, the insider now owns 137,956 shares in the company, valued at $562,860.48. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Pablo G. Legorreta bought 22,617,909 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average price of $2.42 per share, with a total value of $54,735,339.78. Following the transaction, 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. Company insiders own 41.49% of the company’s stock.

Institutional Investors Weigh In On ProKidney

Hedge funds and other institutional investors have recently modified their holdings of the company. Zullo Investment Group Inc. purchased a new stake in shares of ProKidney during the first quarter worth about $32,000. SG Americas Securities LLC grew its holdings in shares of ProKidney by 174.2% during the fourth quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock worth $83,000 after buying an additional 29,749 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of ProKidney by 10,984.7% during 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 in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in ProKidney by 44.6% in the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock valued at $441,000 after purchasing an additional 55,266 shares during the period. 51.59% of the stock is currently 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.