Marshall Wace LLP Acquires New Stake in ProKidney Corp. (NASDAQ:PROK)

Marshall Wace LLP acquired a new stake in ProKidney Corp. (NASDAQ:PROK) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 50,242 shares of the company’s stock, valued at approximately $124,000.

Separately, Rhumbline Advisers lifted its stake in ProKidney by 8.8% in the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after purchasing an additional 6,181 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PROK. Bank of America dropped their price objective on ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Guggenheim began coverage on ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, JPMorgan Chase & Co. began coverage on ProKidney in a research note on Monday, September 30th. They issued a “neutral” rating on the stock. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $4.50.

ProKidney Price Performance

Shares of PROK stock opened at $1.83 on Monday. The company’s fifty day simple moving average is $2.15 and its two-hundred day simple moving average is $2.42. ProKidney Corp. has a 1 year low of $1.12 and a 1 year high of $4.44. The stock has a market capitalization of $419.70 million, a price-to-earnings ratio of -3.21 and a beta of 1.08.

ProKidney (NASDAQ:PROK) last released its quarterly 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. Equities research analysts anticipate that ProKidney Corp. will post -0.52 EPS for the current year.

Insider Transactions at ProKidney

In other news, insider Darin J. Weber sold 16,412 shares of the company’s 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 transaction, the insider now owns 103,480 shares of the company’s stock, valued at approximately $258,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 41.49% 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.