ProKidney (NASDAQ:PROK) Sees Large Volume Increase – What’s Next?

ProKidney Corp. (NASDAQ:PROK) shares saw unusually-strong trading volume on Tuesday . 1,408,464 shares were traded during mid-day trading, an increase of 45% from the previous session’s volume of 969,673 shares.The stock last traded at $2.1650 and had previously closed at $1.89.

Wall Street Analyst Weigh In

PROK has been the topic of several recent research reports. Wall Street Zen lowered ProKidney from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of ProKidney in a research note on Monday, May 18th. Weiss Ratings cut shares of ProKidney from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday. Finally, Jefferies Financial Group raised shares of ProKidney to a “strong-buy” rating in a report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ProKidney currently has an average rating of “Moderate Buy” and an average price target of $9.00.

ProKidney Stock Performance

The firm has a market capitalization of $626.77 million, a P/E ratio of -3.92 and a beta of 1.65. The stock has a fifty day moving average price of $1.81 and a two-hundred day moving average price of $2.02.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.10 million. As a group, research analysts anticipate that ProKidney Corp. will post -0.49 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProKidney

A number of institutional investors have recently modified their holdings of PROK. Hennion & Walsh Asset Management Inc. raised its stake in ProKidney by 63.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company’s stock worth $3,369,000 after acquiring an additional 583,983 shares during the period. Artia Global Partners LP bought a new position in shares of ProKidney during the fourth quarter valued at approximately $4,118,000. FNY Investment Advisers LLC grew its holdings in shares of ProKidney by 590,620.0% during the fourth quarter. FNY Investment Advisers LLC now owns 59,052 shares of the company’s stock valued at $132,000 after purchasing an additional 59,062 shares during the last quarter. Jefferies Financial Group Inc. acquired a new stake in shares of ProKidney during the 3rd quarter worth approximately $158,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of ProKidney in the 4th quarter worth approximately $101,000. Institutional investors own 51.59% of the company’s stock.

ProKidney Company Profile

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.