ProKidney (NASDAQ:PROK) Trading 8.5% Higher – What’s Next?

ProKidney Corp. (NASDAQ:PROK) traded up 8.5% on Thursday . The company traded as high as $1.80 and last traded at $1.79. 106,581 shares were traded during trading, a decline of 85% from the average session volume of 704,867 shares. The stock had previously closed at $1.65.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Guggenheim assumed coverage on ProKidney in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.00 price target on the stock. Bank of America lowered their price target on ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. assumed coverage on ProKidney in a report on Monday, September 30th. They set a “neutral” rating for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $4.50.

ProKidney Trading Down 2.9 %

The business has a fifty day moving average price of $1.89 and a 200-day moving average price of $2.37.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). On average, equities research analysts expect that ProKidney Corp. will post -0.54 EPS for the current year.

Insider Activity at ProKidney

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the company’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $2.50, for a total transaction of $41,030.00. Following the completion of the sale, the insider now directly owns 103,480 shares in the company, valued at $258,700. This represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 41.49% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PROK. Bank of New York Mellon Corp increased its holdings in shares of ProKidney by 44.6% during the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock worth $441,000 after buying an additional 55,266 shares in the last quarter. Rhumbline Advisers increased its holdings in ProKidney by 8.8% in the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after purchasing an additional 6,181 shares during the period. Marshall Wace LLP acquired a new stake in ProKidney in the second quarter valued at $124,000. AQR Capital Management LLC acquired a new stake in ProKidney in the second quarter valued at $50,000. Finally, The Manufacturers Life Insurance Company acquired a new stake in ProKidney in the second quarter valued at $60,000. 51.59% of the stock is currently 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.