ProKidney (NASDAQ:PROK) Shares Gap Up to $2.72

ProKidney Corp. (NASDAQ:PROK) gapped up before the market opened on Wednesday . The stock had previously closed at $2.72, but opened at $2.79. ProKidney shares last traded at $2.91, with a volume of 953,997 shares trading hands.

Wall Street Analyst Weigh In

PROK has been the subject of a number of recent research reports. Morgan Stanley assumed coverage on ProKidney in a research note on Thursday, March 7th. They set an “equal weight” rating and a $3.00 price objective for the company. Bank of America cut ProKidney from a “buy” rating to a “neutral” rating in a report on Tuesday, January 2nd.

ProKidney Trading Up 7.7 %

The company has a fifty day moving average price of $1.53 and a two-hundred day moving average price of $1.80.

ProKidney (NASDAQ:PROK) last released its quarterly earnings data on Thursday, March 21st. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.10. Research analysts predict that ProKidney Corp. will post -0.65 earnings per share for the current year.

Institutional Trading of ProKidney

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. State of Wisconsin Investment Board raised its position in ProKidney by 4.5% in the second quarter. State of Wisconsin Investment Board now owns 28,972 shares of the company’s stock valued at $324,000 after purchasing an additional 1,251 shares during the period. Tower Research Capital LLC TRC increased its position in shares of ProKidney by 98.5% during the first quarter. Tower Research Capital LLC TRC now owns 4,456 shares of the company’s stock worth $50,000 after acquiring an additional 2,211 shares during the period. UBS Group AG increased its position in shares of ProKidney by 97.5% during the first quarter. UBS Group AG now owns 5,209 shares of the company’s stock worth $59,000 after acquiring an additional 2,571 shares during the period. Lazard Asset Management LLC purchased a new position in ProKidney in the second quarter valued at $31,000. Finally, Credit Suisse AG increased its holdings in ProKidney by 13.1% in the first quarter. Credit Suisse AG now owns 24,108 shares of the company’s stock valued at $273,000 after buying an additional 2,785 shares during 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.