ProKidney (NASDAQ:PROK) Stock Price Up 7.9%

ProKidney Corp. (NASDAQ:PROK) shares traded up 7.9% during trading on Tuesday . The company traded as high as $2.31 and last traded at $2.31. 111,818 shares changed hands during mid-day trading, a decline of 85% from the average session volume of 754,899 shares. The stock had previously closed at $2.14.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Jefferies Financial Group reduced their target price on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Bank of America increased their target price on ProKidney from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th.

ProKidney Price Performance

The stock has a 50 day moving average of $2.84 and a 200 day moving average of $2.13. The firm has a market cap of $550.42 million, a P/E ratio of -3.91 and a beta of 1.10.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Friday, May 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. On average, research analysts predict that ProKidney Corp. will post -0.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Pablo G. Legorreta acquired 22,617,909 shares of ProKidney stock in a transaction dated Thursday, June 13th. The shares were purchased at an average cost of $2.42 per share, with a total value of $54,735,339.78. Following the completion of the purchase, the director now owns 22,617,909 shares of the company’s stock, valued at $54,735,339.78. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Pablo G. Legorreta bought 22,617,909 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was bought at an average cost of $2.42 per share, for a total transaction of $54,735,339.78. Following the completion of the acquisition, the director now owns 22,617,909 shares in the company, valued at approximately $54,735,339.78. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Darin J. Weber sold 17,238 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $70,331.04. Following the sale, the insider now owns 137,956 shares of the company’s stock, valued at $562,860.48. The disclosure for this sale can be found here. Insiders own 41.49% of the company’s stock.

Institutional Trading of ProKidney

Institutional investors have recently modified their holdings of the company. Zullo Investment Group Inc. purchased a new stake in shares of ProKidney during the first quarter worth about $32,000. SG Americas Securities LLC lifted its holdings in ProKidney by 174.2% in the fourth quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock worth $83,000 after buying an additional 29,749 shares during the period. Finally, Federated Hermes Inc. increased its stake in shares of ProKidney by 10,984.7% during the fourth quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock valued at $202,000 after purchasing an additional 112,264 shares in the last quarter. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

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.