ProKidney (NASDAQ:PROK) Shares Up 5.2% – What’s Next?

ProKidney Corp. (NASDAQ:PROK)’s share price traded up 5.2% during mid-day trading on Wednesday . The stock traded as high as $2.34 and last traded at $2.3150. 458,415 shares changed hands during trading, a decline of 90% from the average session volume of 4,370,086 shares. The stock had previously closed at $2.20.

Wall Street Analyst Weigh In

PROK has been the topic of several recent analyst reports. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a report on Wednesday, October 8th. HC Wainwright assumed coverage on ProKidney in a research report on Tuesday. They set a “buy” rating and a $12.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $7.40.

ProKidney Stock Down 4.0%

The business’s fifty day moving average price is $2.62 and its 200 day moving average price is $2.37. The firm has a market capitalization of $712.97 million, a PE ratio of -4.31 and a beta of 1.79.

ProKidney (NASDAQ:PROK) last announced its earnings results on Monday, November 10th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $0.22 million during the quarter, compared to analysts’ expectations of $0.04 million. On average, analysts anticipate that ProKidney Corp. will post -0.57 earnings per share for the current year.

Insider Transactions at ProKidney

In other ProKidney news, Director Brian Jg Pereira sold 502,136 shares of the company’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $2.37, for a total transaction of $1,190,062.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 41.49% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in PROK. Zullo Investment Group Inc. acquired a new position in ProKidney during the 3rd quarter worth approximately $28,000. AQR Capital Management LLC lifted its holdings in shares of ProKidney by 106.4% in the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock valued at $46,000 after buying an additional 27,098 shares during the period. Deutsche Bank AG boosted its stake in shares of ProKidney by 49.4% in the first quarter. Deutsche Bank AG now owns 86,337 shares of the company’s stock valued at $76,000 after buying an additional 28,546 shares in the last quarter. Two Sigma Investments LP grew its holdings in ProKidney by 40.4% during the third quarter. Two Sigma Investments LP now owns 99,282 shares of the company’s stock worth $240,000 after acquiring an additional 28,583 shares during the period. Finally, UBS Group AG grew its holdings in ProKidney by 7.0% during the third quarter. UBS Group AG now owns 508,353 shares of the company’s stock worth $1,230,000 after acquiring an additional 33,306 shares during the period. 51.59% of the stock is currently owned by institutional investors and hedge funds.

About ProKidney

ProKidney, Inc (NASDAQ: PROK) is a clinical-stage biotechnology company focused on developing cell-based therapies for kidney diseases. The company’s research and development activities center on harnessing human-derived proximal tubule cells to address conditions such as acute kidney injury (AKI) and chronic kidney disease (CKD). By targeting the underlying cellular mechanisms of renal injury and dysfunction, ProKidney aims to offer novel regenerative medicine approaches that go beyond current supportive care options.

ProKidney’s lead programs utilize proprietary methods for isolating and expanding renal epithelial cells to create injectable therapeutic products.