Charles Schwab Investment Management Inc. Increases Stock Position in ProKidney Corp. (NASDAQ:PROK)

Charles Schwab Investment Management Inc. boosted its position in shares of ProKidney Corp. (NASDAQ:PROK) by 150.6% in the third quarter, HoldingsChannel.com reports. The fund owned 749,718 shares of the company’s stock after purchasing an additional 450,548 shares during the period. Charles Schwab Investment Management Inc.’s holdings in ProKidney were worth $1,439,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its stake in ProKidney by 44.6% in the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock valued at $441,000 after buying an additional 55,266 shares in the last quarter. Rhumbline Advisers boosted its holdings in ProKidney by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after purchasing an additional 6,181 shares in the last quarter. Marshall Wace LLP acquired a new position in shares of ProKidney during the 2nd quarter worth $124,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProKidney during the 2nd quarter valued at approximately $106,000. Finally, Castleview Partners LLC purchased a new position in ProKidney during the 3rd quarter valued at about $63,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

ProKidney Trading Up 2.5 %

Shares of NASDAQ PROK opened at $1.84 on Tuesday. The stock’s 50 day simple moving average is $1.85 and its 200 day simple moving average is $2.18. The company has a market cap of $536.66 million, a price-to-earnings ratio of -3.35 and a beta of 1.27. ProKidney Corp. has a 12-month low of $1.18 and a 12-month high of $4.44.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) EPS for the quarter, hitting analysts’ consensus estimates of ($0.14). As a group, equities analysts forecast that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages recently weighed in on PROK. Bank of America cut their target price on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. Guggenheim assumed coverage on ProKidney in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price objective on the stock. Finally, JPMorgan Chase & Co. assumed coverage on ProKidney in a report on Monday, September 30th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.50.

Insider Buying and Selling

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total transaction of $41,030.00. Following the sale, the insider now directly owns 103,480 shares of the company’s stock, valued at $258,700. The trade was a 13.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 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.