ProKidney (NASDAQ:PROK) PT Lowered to $3.00 at Bank of America

ProKidney (NASDAQ:PROK) had its price target decreased by Bank of America from $4.00 to $3.00 in a research report released on Wednesday, Benzinga reports. Bank of America currently has a neutral rating on the stock.

Separately, Jefferies Financial Group reduced 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.

ProKidney Stock Down 1.7 %

Shares of PROK opened at $2.33 on Wednesday. The stock has a market cap of $534.37 million, a PE ratio of -4.09 and a beta of 1.10. ProKidney has a 12-month low of $1.12 and a 12-month high of $8.56. The business has a 50-day simple moving average of $2.27 and a two-hundred day simple moving average of $2.32.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings data on Friday, August 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. On average, equities research analysts expect that ProKidney will post -0.51 EPS for the current year.

Insider Activity at ProKidney

In other news, Director Pablo G. Legorreta purchased 22,617,909 shares of the stock in a transaction on Thursday, June 13th. The stock was purchased at an average price of $2.42 per share, for a total transaction of $54,735,339.78. Following 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 legal filing with the SEC, which can be accessed through this link. In other news, Director Pablo G. Legorreta purchased 22,617,909 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were acquired at an average price of $2.42 per share, with a total value of $54,735,339.78. Following the completion of the transaction, the director now owns 22,617,909 shares of the company’s stock, valued at approximately $54,735,339.78. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Control Empresarial De Capital acquired 8,264,462 shares of the stock in a transaction dated Tuesday, June 11th. The stock was acquired at an average cost of $2.42 per share, with a total value of $19,999,998.04. Following the completion of the transaction, the insider now owns 71,560,107 shares in the company, valued at approximately $173,175,458.94. The disclosure for this purchase can be found here. 41.49% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On ProKidney

Several institutional investors have recently added to or reduced their stakes in the business. Zullo Investment Group Inc. acquired a new stake in shares of ProKidney during the 1st quarter worth approximately $32,000. AQR Capital Management LLC acquired a new stake in ProKidney in the second quarter worth $50,000. The Manufacturers Life Insurance Company acquired a new stake in ProKidney in the second quarter worth $60,000. Susquehanna Fundamental Investments LLC bought a new stake in ProKidney in the second quarter valued at $106,000. Finally, Marshall Wace LLP acquired a new position in shares of ProKidney during the second quarter valued at about $124,000. 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.