ProKidney (NASDAQ:PROK) Stock Price Up 7.9%

Shares of ProKidney Corp. (NASDAQ:PROK) traded up 7.9% on Tuesday . The stock traded as high as $2.31 and last traded at $2.31. 111,818 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 754,899 shares. The stock had previously closed at $2.14.

Wall Street Analyst Weigh In

A number of research firms recently commented on PROK. Jefferies Financial Group lowered their price objective on shares of 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 lifted their price target on ProKidney from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, May 29th.

ProKidney Price Performance

The stock has a market capitalization of $536.66 million, a P/E ratio of -4.11 and a beta of 1.10. The stock’s fifty day moving average is $2.91 and its two-hundred day moving average is $2.13.

ProKidney (NASDAQ:PROK) last issued its earnings results on Friday, May 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. Analysts expect that ProKidney Corp. will post -0.56 EPS for the current year.

Insiders Place Their Bets

In related news, insider Darin J. Weber sold 17,238 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $4.08, for a total value of $70,331.04. Following the completion of the sale, the insider now directly owns 137,956 shares of the company’s stock, valued at approximately $562,860.48. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Pablo G. Legorreta acquired 22,617,909 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average cost of $2.42 per share, for a total transaction of $54,735,339.78. Following the completion of the acquisition, the director now owns 22,617,909 shares in the company, valued at $54,735,339.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darin J. Weber sold 17,238 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $4.08, for a total value of $70,331.04. Following the completion of the transaction, the insider now directly owns 137,956 shares in the company, valued at $562,860.48. The disclosure for this sale can be found here. Corporate insiders own 41.49% of the company’s stock.

Hedge Funds Weigh In On ProKidney

Several hedge funds have recently bought and sold shares of PROK. SG Americas Securities LLC increased its holdings in shares of ProKidney by 174.2% during the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock valued at $83,000 after acquiring an additional 29,749 shares during the last quarter. Federated Hermes Inc. grew its stake in ProKidney by 10,984.7% in the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock valued at $202,000 after buying an additional 112,264 shares during the last quarter. Finally, Zullo Investment Group Inc. bought a new position in ProKidney in the 1st quarter worth $32,000. 51.59% of the stock is owned by institutional investors and hedge funds.

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.