ProKidney (NASDAQ:PROK) Shares Gap Up to $2.21

Shares of ProKidney Corp. (NASDAQ:PROK) gapped up prior to trading on Thursday . The stock had previously closed at $2.21, but opened at $2.28. ProKidney shares last traded at $2.39, with a volume of 82,834 shares traded.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PROK shares. Bank of America boosted their price objective on ProKidney from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 29th. Jefferies Financial Group cut their price objective on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 10th.

ProKidney Trading Up 8.1 %

The business has a 50-day moving average price of $2.28 and a 200 day moving average price of $2.27. The stock has a market cap of $548.13 million, a PE ratio of -4.16 and a beta of 1.10.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings results on Friday, August 9th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. On average, equities analysts predict that ProKidney Corp. will post -0.56 earnings per share for the current year.

Insider Activity at ProKidney

In related news, Director Pablo G. Legorreta acquired 22,617,909 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The shares were bought at an average cost of $2.42 per share, for a total transaction of $54,735,339.78. Following the purchase, the director now owns 22,617,909 shares in the company, valued at approximately $54,735,339.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Control Empresarial De Capital acquired 8,264,462 shares of ProKidney stock in a transaction dated Tuesday, June 11th. The shares were purchased at an average cost of $2.42 per share, for a total transaction of $19,999,998.04. Following the transaction, the insider now owns 71,560,107 shares of the company’s stock, valued at $173,175,458.94. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 price of $2.42 per share, for a total transaction of $54,735,339.78. Following the completion of the transaction, the director now directly owns 22,617,909 shares in the company, valued at approximately $54,735,339.78. The disclosure for this purchase can be found here. 41.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProKidney

Institutional investors have recently bought and sold shares of the stock. Zullo Investment Group Inc. purchased a new stake in ProKidney during the 1st quarter valued at about $32,000. AQR Capital Management LLC purchased a new stake in ProKidney during the 2nd quarter valued at about $50,000. The Manufacturers Life Insurance Company purchased a new stake in ProKidney during the 2nd quarter valued at about $60,000. Susquehanna Fundamental Investments LLC purchased a new stake in ProKidney during the 2nd quarter valued at about $106,000. Finally, Marshall Wace LLP purchased a new stake in ProKidney during the 2nd quarter valued at about $124,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

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.