ProKidney (NASDAQ:PROK) Shares Gap Up to $2.72

Shares of ProKidney Corp. (NASDAQ:PROK) gapped up prior to trading on Wednesday . The stock had previously closed at $2.72, but opened at $2.79. ProKidney shares last traded at $2.91, with a volume of 953,997 shares trading hands.

Analysts Set New Price Targets

Several equities analysts recently commented on PROK shares. Morgan Stanley started coverage on shares of ProKidney in a research note on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 price target on the stock. Bank of America downgraded shares of ProKidney from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd.

ProKidney Price Performance

The company’s 50-day moving average is $1.59 and its two-hundred day moving average is $1.81. The firm has a market cap of $550.43 million, a P/E ratio of -4.21 and a beta of 1.08.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings data on Thursday, March 21st. The company reported ($0.09) earnings per share for the quarter, topping the consensus estimate of ($0.19) by $0.10. On average, analysts expect that ProKidney Corp. will post -0.65 EPS for the current fiscal year.

Insider Transactions at ProKidney

In other news, SVP Darin J. Weber sold 17,238 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total value of $43,095.00. Following the completion of the transaction, the senior vice president now owns 172,432 shares of the company’s stock, valued at $431,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Darin J. Weber sold 17,238 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total value of $43,095.00. Following the completion of the transaction, the senior vice president now owns 172,432 shares of the company’s stock, valued at $431,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Darin J. Weber sold 84,103 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $1.73, for a total transaction of $145,498.19. Following the completion of the transaction, the senior vice president now directly owns 189,670 shares of the company’s stock, valued at approximately $328,129.10. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 101,641 shares of company stock valued at $189,100. 44.99% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in PROK. BlackRock Inc. bought a new position in ProKidney in the 3rd quarter valued at approximately $980,000. Vanguard Group Inc. bought a new position in ProKidney in the 3rd quarter valued at approximately $1,370,000. Bank of America Corp DE raised its holdings in ProKidney by 1,964,340.0% in the 4th quarter. Bank of America Corp DE now owns 196,444 shares of the company’s stock valued at $1,348,000 after buying an additional 196,434 shares during the last quarter. Geode Capital Management LLC raised its holdings in ProKidney by 29.5% in the 4th quarter. Geode Capital Management LLC now owns 132,808 shares of the company’s stock valued at $911,000 after buying an additional 30,253 shares during the last quarter. Finally, Amundi bought a new position in ProKidney in the 4th quarter valued at approximately $182,000. 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.