Control Empresarial De Capital Acquires 8,264,462 Shares of ProKidney Corp. (NASDAQ:PROK) Stock

ProKidney Corp. (NASDAQ:PROK) insider Control Empresarial De Capital purchased 8,264,462 shares of ProKidney stock in a transaction on Tuesday, June 11th. The stock was bought at an average price of $2.42 per share, with a total value of $19,999,998.04. Following the completion of the acquisition, the insider now directly owns 71,560,107 shares of the company’s stock, valued at approximately $173,175,458.94. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

ProKidney Stock Up 1.8 %

PROK stock opened at $2.27 on Thursday. ProKidney Corp. has a twelve month low of $1.12 and a twelve month high of $13.51. The stock’s 50 day moving average is $2.95 and its 200-day moving average is $2.06. The firm has a market capitalization of $520.60 million, a PE ratio of -3.98 and a beta of 1.21.

ProKidney (NASDAQ:PROK) last posted its earnings results on Friday, May 10th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. On average, equities research analysts anticipate that ProKidney Corp. will post -0.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. Morgan Stanley started 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. Jefferies Financial Group decreased their price target on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Finally, Bank of America raised their price objective on shares of ProKidney from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of PROK. Zullo Investment Group Inc. bought a new position in shares of ProKidney in the first quarter valued at approximately $32,000. SG Americas Securities LLC lifted its holdings in ProKidney by 174.2% during the fourth quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock worth $83,000 after acquiring an additional 29,749 shares during the period. Finally, Federated Hermes Inc. lifted its holdings in ProKidney by 10,984.7% during the fourth quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after acquiring an additional 112,264 shares during the period. Institutional investors own 51.59% of the company’s stock.

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.