ProKidney (NASDAQ:PROK) Shares Up 8.5% – What’s Next?

ProKidney Corp. (NASDAQ:PROK)’s stock price traded up 8.5% on Thursday . The company traded as high as $1.80 and last traded at $1.79. 106,581 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 704,867 shares. The stock had previously closed at $1.65.

Analyst Ratings Changes

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

ProKidney Price Performance

The company has a fifty day moving average price of $1.90 and a two-hundred day moving average price of $2.38. The firm has a market cap of $504.03 million, a price-to-earnings ratio of -3.19 and a beta of 1.11.

ProKidney (NASDAQ:PROK) last released its quarterly earnings data on Tuesday, November 12th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). On average, research analysts expect that ProKidney Corp. will post -0.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Darin J. Weber sold 16,412 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $2.50, for a total value of $41,030.00. Following the completion of the transaction, the insider now directly owns 103,480 shares of the company’s stock, valued at approximately $258,700. This represents a 13.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 41.49% of the company’s stock.

Hedge Funds Weigh In On ProKidney

Several institutional investors have recently added to or reduced their stakes in PROK. Rhumbline Advisers raised its stake in shares of ProKidney by 8.8% in the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock worth $187,000 after acquiring an additional 6,181 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of ProKidney by 54.6% during the third quarter. The Manufacturers Life Insurance Company now owns 37,981 shares of the company’s stock valued at $73,000 after acquiring an additional 13,415 shares during the period. AQR Capital Management LLC bought a new position in shares of ProKidney during the second quarter worth $50,000. XTX Topco Ltd bought a new stake in shares of ProKidney in the third quarter worth about $41,000. Finally, Intech Investment Management LLC bought a new position in shares of ProKidney during the 3rd quarter valued at about $46,000. 51.59% of the stock is owned by 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.