ProKidney (NASDAQ:PROK) Shares Down 3.2%

ProKidney Corp. (NASDAQ:PROK)’s share price traded down 3.2% on Tuesday . The stock traded as low as $2.42 and last traded at $2.42. 23,223 shares were traded during mid-day trading, a decline of 97% from the average session volume of 786,730 shares. The stock had previously closed at $2.50.

Wall Street Analyst Weigh In

Several brokerages have recently commented on PROK. Morgan Stanley assumed coverage on ProKidney in a research report on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 target price for the company. Bank of America lifted their price objective 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, Jefferies Financial Group dropped their target price on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, June 10th.

ProKidney Price Performance

The firm has a fifty day moving average of $2.94 and a 200-day moving average of $2.08.

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

Insider Buying and Selling at ProKidney

In other ProKidney news, insider Darin J. Weber sold 17,238 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The shares were sold at an average price of $4.08, for a total value of $70,331.04. Following the sale, the insider now owns 137,956 shares in the company, valued at $562,860.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Darin J. Weber sold 17,238 shares of the stock in a transaction on 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 owns 137,956 shares of the company’s stock, valued at $562,860.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Pablo G. Legorreta purchased 22,617,909 shares of the stock in a transaction dated Thursday, June 13th. The shares were 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 directly owns 22,617,909 shares of the company’s stock, valued at approximately $54,735,339.78. The disclosure for this purchase can be found here. Insiders sold 135,817 shares of company stock valued at $302,216 in the last ninety days. Company insiders own 41.49% of the company’s stock.

Institutional Trading of ProKidney

A number of institutional investors have recently made changes to their positions in the stock. Zullo Investment Group Inc. bought a new stake in ProKidney during the first quarter worth approximately $32,000. SG Americas Securities LLC increased its position 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 purchasing an additional 29,749 shares during the period. Finally, Federated Hermes Inc. raised its stake in shares of ProKidney by 10,984.7% in the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after buying an additional 112,264 shares in the last quarter. 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.