ProKidney (NASDAQ:PROK) Shares Gap Down to $2.38

ProKidney Corp. (NASDAQ:PROK) gapped down before the market opened on Friday . The stock had previously closed at $2.38, but opened at $2.32. ProKidney shares last traded at $2.39, with a volume of 41,538 shares traded.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Jefferies Financial Group decreased their target price on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, June 10th. Bank of America lowered their price objective on ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, Guggenheim began coverage on ProKidney in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.00 target price on the stock.

ProKidney Trading Up 0.4 %

The company has a market cap of $692.31 million, a PE ratio of -4.19 and a beta of 1.10. The firm’s 50-day simple moving average is $2.28 and its two-hundred day simple moving average is $2.35.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. As a group, analysts predict that ProKidney Corp. will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProKidney during the second quarter worth about $106,000. The Manufacturers Life Insurance Company acquired a new stake in ProKidney during the 2nd quarter valued at approximately $60,000. AQR Capital Management LLC purchased a new stake in shares of ProKidney in the 2nd quarter valued at $50,000. Marshall Wace LLP acquired a new stake in shares of ProKidney in the second quarter worth $124,000. Finally, Rhumbline Advisers raised its holdings in shares of ProKidney by 8.8% during the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock worth $187,000 after purchasing an additional 6,181 shares during the last quarter. 51.59% of the stock is 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.