ProKidney (NASDAQ:PROK) Stock Price Down 7.4%

ProKidney Corp. (NASDAQ:PROK)’s share price was down 7.4% during trading on Thursday . The stock traded as low as $2.48 and last traded at $2.51. Approximately 61,369 shares traded hands during trading, a decline of 91% from the average daily volume of 678,606 shares. The stock had previously closed at $2.71.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on PROK shares. Morgan Stanley assumed coverage on shares of ProKidney in a report on Thursday, March 7th. They set an “equal weight” rating and a $3.00 target price for the company. Bank of America cut shares of ProKidney from a “buy” rating to a “neutral” rating in a report on Tuesday, January 2nd.

ProKidney Stock Performance

The stock’s 50 day moving average is $1.69 and its two-hundred day moving average is $1.73. The stock has a market capitalization of $621.51 million, a PE ratio of -4.40 and a beta of 1.08.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings results on Thursday, March 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. Equities research analysts expect that ProKidney Corp. will post -0.65 EPS for the current fiscal year.

Insider Activity

In other news, SVP Darin J. Weber sold 17,238 shares of ProKidney stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total transaction of $43,095.00. Following the sale, the senior vice president now owns 172,432 shares of the company’s stock, valued at approximately $431,080. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In related news, SVP Darin J. Weber sold 16,438 shares of ProKidney stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $2.51, for a total value of $41,259.38. Following the completion of the transaction, the senior vice president now owns 155,194 shares in the company, valued at $389,536.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Darin J. Weber sold 17,238 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total transaction of $43,095.00. Following the completion of the transaction, the senior vice president now directly owns 172,432 shares of the company’s stock, valued at approximately $431,080. The disclosure for this sale can be found here. Insiders sold a total of 118,879 shares of company stock valued at $232,392 in the last 90 days. Company insiders own 44.99% of the company’s stock.

Institutional Investors Weigh In On ProKidney

Several large investors have recently bought and sold shares of PROK. SG Americas Securities LLC acquired a new position in shares of ProKidney during the 3rd quarter worth about $78,000. Zullo Investment Group Inc. purchased a new stake in ProKidney during the first quarter worth approximately $32,000. Jump Financial LLC acquired a new position in ProKidney in the third quarter valued at approximately $216,000. Finally, Federated Hermes Inc. raised its holdings in 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 purchasing an additional 112,264 shares in the last quarter. Hedge funds and other 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.