Federated Hermes Inc. Trims Position in ProKidney Corp. (NASDAQ:PROK)

Federated Hermes Inc. trimmed its position in shares of ProKidney Corp. (NASDAQ:PROK) by 79.4% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 23,303 shares of the company’s stock after selling 89,983 shares during the period. Federated Hermes Inc.’s holdings in ProKidney were worth $57,000 at the end of the most recent reporting period.

Separately, Bank of New York Mellon Corp raised its holdings in ProKidney by 44.6% during the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock valued at $441,000 after acquiring an additional 55,266 shares during the period. 51.59% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Insider Transactions at ProKidney

In related news, insider Darin J. Weber sold 16,412 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $258,700. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 41.49% of the company’s stock.

ProKidney Trading Down 9.5 %

Shares of ProKidney stock opened at $2.06 on Thursday. ProKidney Corp. has a 12 month low of $1.12 and a 12 month high of $4.98. The stock has a 50 day moving average of $2.27 and a 200 day moving average of $2.39. The firm has a market cap of $472.45 million, a PE ratio of -3.61 and a beta of 1.10.

ProKidney (NASDAQ:PROK) last announced 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. As a group, equities research analysts forecast 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.