ProKidney (NASDAQ:PROK) Sees Large Volume Increase

Shares of ProKidney Corp. (NASDAQ:PROK) saw an uptick in trading volume on Monday . 699,198 shares were traded during trading, an increase of 8% from the previous session’s volume of 650,333 shares.The stock last traded at $2.37 and had previously closed at $2.04.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on PROK shares. Bank of America downgraded shares of ProKidney from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd. Morgan Stanley began coverage on shares of ProKidney in a report on Thursday, March 7th. They set an “equal weight” rating and a $3.00 price objective for the company.

ProKidney Stock Performance

The business’s 50-day simple moving average is $1.63 and its 200 day simple moving average is $1.74.

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

Insider Transactions at ProKidney

In related news, SVP Darin J. Weber sold 17,238 shares of the firm’s stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $2.50, for a total transaction of $43,095.00. Following the transaction, the senior vice president now directly owns 172,432 shares in the company, valued at approximately $431,080. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, SVP Darin J. Weber sold 84,103 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $1.73, for a total value of $145,498.19. Following the sale, the senior vice president now directly owns 189,670 shares of the company’s stock, valued at $328,129.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Darin J. Weber sold 17,238 shares of the business’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total value of $43,095.00. Following the transaction, the senior vice president now owns 172,432 shares in the company, valued at approximately $431,080. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 118,879 shares of company stock worth $232,392. Company insiders own 44.99% of the company’s stock.

Hedge Funds Weigh In On ProKidney

Hedge funds have recently made changes to their positions in the business. Jump Financial LLC bought a new stake in ProKidney in the third quarter valued at $216,000. SG Americas Securities LLC bought a new position in ProKidney in the 3rd quarter worth $78,000. Finally, Federated Hermes Inc. lifted its position in shares of ProKidney by 10,984.7% in the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after purchasing an additional 112,264 shares during the period. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.