ProKidney (NASDAQ:PROK) Trading 6.2% Higher

Shares of ProKidney Corp. (NASDAQ:PROK) traded up 6.2% during mid-day trading on Friday . The company traded as high as $2.23 and last traded at $2.22. 60,214 shares were traded during trading, a decline of 92% from the average session volume of 730,630 shares. The stock had previously closed at $2.09.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Jefferies Financial Group reduced their target price on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Bank of America upped their target price on shares of ProKidney from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 29th.

ProKidney Stock Up 7.7 %

The company’s fifty day moving average is $2.49 and its two-hundred day moving average is $2.18. The firm has a market capitalization of $516.02 million, a price-to-earnings ratio of -3.89 and a beta of 1.10.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data 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, equities research analysts expect that ProKidney Corp. will post -0.56 EPS for the current year.

Insider Activity at ProKidney

In other news, Director Pablo G. Legorreta bought 22,617,909 shares of the stock in a transaction on Thursday, June 13th. The stock was purchased at an average price of $2.42 per share, with a total value of $54,735,339.78. Following the completion of the purchase, the director now owns 22,617,909 shares of the company’s stock, valued at $54,735,339.78. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Pablo G. Legorreta bought 22,617,909 shares of the stock in a transaction on Thursday, June 13th. The stock was purchased at an average price of $2.42 per share, with a total value of $54,735,339.78. Following the completion of the purchase, the director now owns 22,617,909 shares of the company’s stock, valued at $54,735,339.78. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital bought 8,264,462 shares of the stock in a transaction on Tuesday, June 11th. The stock was purchased at an average cost of $2.42 per share, with a total value of $19,999,998.04. Following the purchase, the insider now directly owns 71,560,107 shares of the company’s stock, valued at approximately $173,175,458.94. The disclosure for this purchase can be found here. 41.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ProKidney

Large investors have recently made changes to their positions in the stock. Zullo Investment Group Inc. bought a new stake in shares of ProKidney during the first quarter worth $32,000. SG Americas Securities LLC grew its position in ProKidney by 174.2% in the fourth 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 in the last quarter. Rhumbline Advisers grew its position in ProKidney by 8.8% in the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after purchasing an additional 6,181 shares in the last quarter. Federated Hermes Inc. grew its position in ProKidney by 10,984.7% in the fourth quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock valued at $202,000 after purchasing an additional 112,264 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position 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 in the last quarter. Institutional investors own 51.59% of the company’s stock.

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.