ProKidney (NASDAQ:PROK) Sees Strong Trading Volume

ProKidney Corp. (NASDAQ:PROK) saw unusually-high trading volume on Thursday . Approximately 477,394 shares changed hands during mid-day trading, a decline of 32% from the previous session’s volume of 697,400 shares.The stock last traded at $2.41 and had previously closed at $2.39.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PROK shares. Guggenheim initiated coverage on shares of ProKidney in a research note on Tuesday, September 10th. They set a “buy” rating and a $6.00 target price for the company. Bank of America dropped their target price on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, Jefferies Financial Group lowered their price target on ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, June 10th.

ProKidney Trading Up 2.9 %

The company has a market capitalization of $564.19 million, a price-to-earnings ratio of -4.19 and a beta of 1.10. The stock’s fifty day simple moving average is $2.28 and its 200-day simple moving average is $2.37.

ProKidney (NASDAQ:PROK) last released its earnings results on Friday, August 9th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. On average, analysts anticipate that ProKidney Corp. will post -0.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in shares of ProKidney in the 2nd quarter valued at $50,000. The Manufacturers Life Insurance Company purchased a new position in ProKidney in the second quarter valued at $60,000. Susquehanna Fundamental Investments LLC acquired a new stake in ProKidney in the second quarter valued at $106,000. Marshall Wace LLP purchased a new stake in ProKidney during the 2nd quarter worth about $124,000. Finally, Rhumbline Advisers boosted its position in shares of ProKidney by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock worth $187,000 after acquiring an additional 6,181 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

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.