ProKidney (NASDAQ:PROK) Stock Price Down 4.3% – What’s Next?

ProKidney Corp. (NASDAQ:PROK) traded down 4.3% on Friday . The stock traded as low as $2.38 and last traded at $2.3650. 127,121 shares traded hands during trading, a decline of 97% from the average session volume of 4,355,383 shares. The stock had previously closed at $2.47.

Analyst Ratings Changes

A number of research analysts recently weighed in on the company. HC Wainwright assumed coverage on ProKidney in a research note on Tuesday. They set a “buy” rating and a $12.00 price target on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research report on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.40.

ProKidney Stock Down 3.8%

The company has a market cap of $714.47 million, a PE ratio of -4.32 and a beta of 1.79. The company has a 50-day moving average of $2.62 and a 200-day moving average of $2.37.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $0.22 million for the quarter, compared to the consensus estimate of $0.04 million. As a group, equities analysts predict that ProKidney Corp. will post -0.57 EPS for the current year.

Insider Transactions at ProKidney

In other ProKidney news, Director Brian Jg Pereira sold 502,136 shares of the company’s stock in a transaction dated Thursday, November 13th. The shares were sold at an average price of $2.37, for a total value of $1,190,062.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 41.49% of the company’s stock.

Hedge Funds Weigh In On ProKidney

A number of hedge funds and other institutional investors have recently modified their holdings of PROK. Zullo Investment Group Inc. purchased a new position in ProKidney in the third quarter worth $28,000. Catalyst Funds Management Pty Ltd bought a new stake in shares of ProKidney during the 2nd quarter worth $36,000. AQR Capital Management LLC boosted its holdings in shares of ProKidney by 106.4% in the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after buying an additional 27,098 shares during the last quarter. Deutsche Bank AG grew its position in ProKidney by 49.4% during the first quarter. Deutsche Bank AG now owns 86,337 shares of the company’s stock valued at $76,000 after buying an additional 28,546 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in ProKidney during the third quarter worth about $158,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

About ProKidney

ProKidney, Inc (NASDAQ: PROK) is a clinical-stage biotechnology company focused on developing cell-based therapies for kidney diseases. The company’s research and development activities center on harnessing human-derived proximal tubule cells to address conditions such as acute kidney injury (AKI) and chronic kidney disease (CKD). By targeting the underlying cellular mechanisms of renal injury and dysfunction, ProKidney aims to offer novel regenerative medicine approaches that go beyond current supportive care options.

ProKidney’s lead programs utilize proprietary methods for isolating and expanding renal epithelial cells to create injectable therapeutic products.