ProKidney Corp. (NASDAQ:PROK) Director Acquires $54,735,339.78 in Stock

ProKidney Corp. (NASDAQ:PROK) Director Pablo G. Legorreta bought 22,617,909 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was bought at an average price of $2.42 per share, for a total transaction of $54,735,339.78. Following the completion of the purchase, the director now directly owns 22,617,909 shares in the company, valued at $54,735,339.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

ProKidney Trading Down 8.1 %

Shares of NASDAQ:PROK opened at $2.73 on Monday. The company has a market capitalization of $626.10 million, a PE ratio of -4.79 and a beta of 1.21. ProKidney Corp. has a 12-month low of $1.12 and a 12-month high of $13.51. The business’s fifty day simple moving average is $2.85 and its 200-day simple moving average is $2.02.

ProKidney (NASDAQ:PROK) last posted its earnings results on Friday, May 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.09. Research analysts predict that ProKidney Corp. will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Zullo Investment Group Inc. acquired a new stake in ProKidney in the first quarter valued at approximately $32,000. Federated Hermes Inc. lifted its holdings in shares of ProKidney by 10,984.7% during the 4th 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 last quarter. SG Americas Securities LLC boosted its position in shares of ProKidney by 174.2% in the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock worth $83,000 after purchasing an additional 29,749 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in ProKidney during the 3rd quarter worth $216,000. Institutional investors own 51.59% of the company’s stock.

Wall Street Analysts Forecast Growth

PROK has been the topic of several research analyst reports. Jefferies Financial Group dropped their price objective on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Bank of America increased their target price on shares of ProKidney from $3.00 to $4.00 and gave the stock a “neutral” rating in a report on Wednesday, May 29th. Finally, Morgan Stanley initiated coverage on shares of ProKidney in a report on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 price target for the company.

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.