ProKidney Corp. (NASDAQ:PROK) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp lifted its holdings in ProKidney Corp. (NASDAQ:PROK) by 44.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 179,236 shares of the company’s stock after acquiring an additional 55,266 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of ProKidney worth $441,000 as of its most recent SEC filing.

Analysts Set New Price Targets

PROK has been the topic of a number of analyst reports. Guggenheim started 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. Jefferies Financial Group dropped their price objective on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, June 10th. Finally, Bank of America reduced their target price on ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th.

Insiders Place Their Bets

In other news, insider Darin J. Weber sold 16,412 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total value of $41,030.00. Following the completion of the transaction, the insider now owns 103,480 shares in the company, valued at approximately $258,700. The sale was disclosed in a filing with the SEC, which is available at this link. Corporate insiders own 41.49% of the company’s stock.

ProKidney Stock Up 3.6 %

PROK opened at $2.28 on Wednesday. ProKidney Corp. has a 12-month low of $1.12 and a 12-month high of $4.98. The firm has a market capitalization of $521.76 million, a P/E ratio of -3.99 and a beta of 1.10. The stock has a fifty day moving average of $2.27 and a 200-day moving average of $2.39.

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

ProKidney 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.