ProKidney (NASDAQ:PROK) Stock Price Down 2.7% – Here’s Why

ProKidney Corp. (NASDAQ:PROK)’s stock price fell 2.7% during trading on Tuesday . The company traded as low as $1.37 and last traded at $1.46. 395,546 shares traded hands during mid-day trading, a decline of 5% from the average session volume of 414,379 shares. The stock had previously closed at $1.50.

ProKidney Trading Down 2.7 %

The company has a market cap of $425.83 million, a P/E ratio of -2.65 and a beta of 1.31. The business’s fifty day moving average is $1.64 and its 200 day moving average is $1.88.

Institutional Investors Weigh In On ProKidney

Hedge funds and other institutional investors have recently bought and sold shares of the business. XTX Topco Ltd bought a new stake in ProKidney during the 3rd quarter valued at $41,000. Intech Investment Management LLC purchased a new position in ProKidney in the third quarter worth $46,000. ProShare Advisors LLC grew its position in ProKidney by 57.3% in the fourth quarter. ProShare Advisors LLC now owns 30,879 shares of the company’s stock worth $52,000 after acquiring an additional 11,250 shares in the last quarter. Sei Investments Co. purchased a new stake in ProKidney during the fourth quarter valued at about $69,000. Finally, The Manufacturers Life Insurance Company boosted its position in ProKidney by 54.6% during the third quarter. The Manufacturers Life Insurance Company now owns 37,981 shares of the company’s stock valued at $73,000 after buying an additional 13,415 shares during the period. Institutional investors own 51.59% 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.