ProKidney (NASDAQ:PROK) Shares Down 2.5%

ProKidney Corp. (NASDAQ:PROK)’s share price fell 2.5% on Friday . The company traded as low as $2.28 and last traded at $2.34. 70,163 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 645,008 shares. The stock had previously closed at $2.40.

Wall Street Analyst Weigh In

A number of equities analysts have commented on PROK shares. Morgan Stanley assumed coverage on shares of ProKidney in a research note on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 target price on the stock. Bank of America downgraded shares of ProKidney from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd.

ProKidney Stock Performance

The stock’s 50 day moving average price is $1.59 and its 200-day moving average price is $1.81.

ProKidney (NASDAQ:PROK) last announced its earnings results on Thursday, March 21st. The company reported ($0.09) earnings per share for the quarter, beating the consensus estimate of ($0.19) by $0.10. On average, analysts predict that ProKidney Corp. will post -0.65 EPS for the current year.

Insider Buying and Selling at ProKidney

In other ProKidney news, SVP Darin J. Weber sold 84,103 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The shares were 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 directly owns 189,670 shares in the company, valued at $328,129.10. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other ProKidney news, SVP Darin J. Weber sold 17,238 shares of the firm’s stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total value of $43,095.00. Following the completion of the transaction, the senior vice president now owns 172,432 shares of the company’s stock, valued at $431,080. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, 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 of the company’s stock, valued at approximately $328,129.10. The disclosure for this sale can be found here. Insiders sold a total of 101,641 shares of company stock worth $189,100 over the last three months. Corporate insiders own 44.99% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Jump Financial LLC purchased a new position in shares of ProKidney during the third quarter worth $216,000. SG Americas Securities LLC purchased a new position in ProKidney in the third quarter valued at $78,000. Trexquant Investment LP purchased a new position in ProKidney in the third quarter valued at $116,000. Barclays PLC increased its holdings in ProKidney by 355.2% in the fourth quarter. Barclays PLC now owns 61,815 shares of the company’s stock valued at $110,000 after buying an additional 48,234 shares in the last quarter. Finally, Royal Bank of Canada increased its holdings in ProKidney by 530.3% in the second quarter. Royal Bank of Canada now owns 6,965 shares of the company’s stock valued at $78,000 after buying an additional 5,860 shares in the last quarter. 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.