ProKidney (NASDAQ:PROK) Shares Up 6.1%

ProKidney Corp. (NASDAQ:PROK) shot up 6.1% on Monday . The company traded as high as $2.37 and last traded at $2.25. 84,849 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 687,234 shares. The stock had previously closed at $2.12.

Wall Street Analysts Forecast Growth

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

ProKidney Stock Up 15.6 %

The business has a 50-day moving average price of $1.73 and a 200-day moving average price of $1.69. The firm has a market capitalization of $561.88 million, a PE ratio of -4.04 and a beta of 1.08.

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

Insider Buying and Selling

In other news, SVP Darin J. Weber sold 84,103 shares of the stock in a transaction that occurred on Friday, April 12th. The shares were 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 in the company, valued at $328,129.10. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, SVP Darin J. Weber sold 16,438 shares of the stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $2.51, for a total transaction of $41,259.38. Following the completion of the sale, the senior vice president now owns 155,194 shares of the company’s stock, valued at approximately $389,536.94. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Darin J. Weber sold 84,103 shares of the company’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $1.73, for a total value of $145,498.19. Following the completion of the transaction, the senior vice president now owns 189,670 shares of the company’s stock, valued at approximately $328,129.10. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,879 shares of company stock valued at $232,392. Corporate insiders own 44.99% of the company’s stock.

Institutional Investors Weigh In On ProKidney

Several institutional investors and hedge funds have recently made changes to their positions in PROK. SG Americas Securities LLC acquired a new stake in ProKidney in the third quarter worth $78,000. Zullo Investment Group Inc. acquired a new position in shares of ProKidney during the first quarter valued at $32,000. Jump Financial LLC acquired a new position in shares of ProKidney during the third quarter valued at $216,000. Finally, Federated Hermes Inc. increased its holdings in shares of ProKidney by 10,984.7% during the fourth quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock valued at $202,000 after purchasing an additional 112,264 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

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.