ProKidney (NASDAQ:PROK) Shares Down 2.5% – Time to Sell?

Shares of ProKidney Corp. (NASDAQ:PROK) traded down 2.5% during mid-day trading on Thursday . The stock traded as low as $1.73 and last traded at $1.74. 127,838 shares were traded during trading, a decline of 81% from the average session volume of 684,749 shares. The stock had previously closed at $1.78.

Wall Street Analyst Weigh In

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

ProKidney Stock Performance

The firm has a market capitalization of $495.83 million, a P/E ratio of -3.09 and a beta of 1.27. The firm has a 50-day moving average of $1.82 and a 200-day moving average of $2.09.

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

Institutional Trading of ProKidney

A number of large investors have recently made changes to their positions in the stock. Suvretta Capital Management LLC boosted its holdings in ProKidney by 32.1% in the third quarter. Suvretta Capital Management LLC now owns 12,341,266 shares of the company’s stock worth $23,695,000 after purchasing an additional 3,000,000 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of ProKidney by 102.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,203,934 shares of the company’s stock worth $4,232,000 after buying an additional 1,112,933 shares during the last quarter. State Street Corp grew its holdings in shares of ProKidney by 16.2% in the third quarter. State Street Corp now owns 1,428,318 shares of the company’s stock worth $2,742,000 after acquiring an additional 198,836 shares during the period. Charles Schwab Investment Management Inc. increased its position in ProKidney by 150.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 749,718 shares of the company’s stock valued at $1,439,000 after acquiring an additional 450,548 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings 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 acquiring an additional 55,266 shares during the period. 51.59% of the stock is currently owned by 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.