Hennion & Walsh Asset Management Inc. Purchases 583,983 Shares of ProKidney Corp. $PROK

Hennion & Walsh Asset Management Inc. increased its position in shares of ProKidney Corp. (NASDAQ:PROK) by 63.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,503,886 shares of the company’s stock after buying an additional 583,983 shares during the period. Hennion & Walsh Asset Management Inc.’s holdings in ProKidney were worth $3,369,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PROK. Zullo Investment Group Inc. acquired a new stake in ProKidney in the third quarter valued at $28,000. AQR Capital Management LLC increased its stake in shares of ProKidney by 106.4% during the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after purchasing an additional 27,098 shares during the last quarter. Jefferies Financial Group Inc. bought a new stake in shares of ProKidney in the 3rd quarter valued at about $158,000. Virtu Financial LLC bought a new stake in shares of ProKidney in the 3rd quarter valued at about $203,000. Finally, Two Sigma Investments LP lifted its stake in ProKidney by 40.4% in the 3rd quarter. Two Sigma Investments LP now owns 99,282 shares of the company’s stock valued at $240,000 after purchasing an additional 28,583 shares during the last quarter. 51.59% of the stock is owned by institutional investors.

ProKidney Stock Performance

NASDAQ PROK opened at $1.79 on Wednesday. The firm has a 50-day moving average of $2.08 and a 200-day moving average of $2.40. The stock has a market cap of $540.43 million, a PE ratio of -3.44 and a beta of 1.75. ProKidney Corp. has a 52-week low of $0.46 and a 52-week high of $7.13.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings results on Wednesday, March 18th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.00 million. As a group, analysts predict that ProKidney Corp. will post -0.57 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. HC Wainwright initiated coverage on ProKidney in a report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price target for the company. Jefferies Financial Group upgraded ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research report on Thursday, January 22nd. Finally, Wall Street Zen downgraded ProKidney from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $7.40.

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.