Brian Jg Pereira Sells 229,338 Shares of ProKidney (NASDAQ:PROK) Stock

Key Points

• ProKidney director Brian Jg Pereira sold 229,338 shares at an average price of $1.37, generating approximately $314,193. Following the sale, his holdings fell 33.96% to 445,897 shares.
• ProKidney shares traded at $1.42, near the company’s 12-month low of $1.30 and below its 50-day and 200-day moving averages. The company recently missed quarterly expectations, reporting a $0.15-per-share loss and $0.15 million in revenue.
• Analyst sentiment remains mixed but leans positive, with a consensus “Moderate Buy” rating and an average price target of $12.00. Institutional investors own approximately 51.59% of the company.

ProKidney Corp. (NASDAQ:PROK - Get Free Report) Director Brian Jg Pereira sold 229,338 shares of the company's stock in a transaction on Tuesday, August 18th. The shares were sold at an average price of $1.37, for a total value of $314,193.06. Following the completion of the transaction, the director owned 445,897 shares of the company's stock, valued at $610,878.89. The trade was a 33.96% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.

Brian Jg Pereira also recently made the following trade(s):

• On Thursday, August 20th, Brian Jg Pereira sold 222,948 shares of ProKidney stock. The stock was sold at an average price of $1.42, for a total transaction of $316,586.16.
• On Thursday, August 20th, Brian Jg Pereira sold 27,052 shares of ProKidney stock. The shares were sold at an average price of $1.42, for a total transaction of $38,413.84.
• On Wednesday, August 19th, Brian Jg Pereira sold 222,949 shares of ProKidney stock. The shares were sold at an average price of $1.44, for a total transaction of $321,046.56.
• On Wednesday, August 19th, Brian Jg Pereira sold 27,051 shares of ProKidney stock. The shares were sold at an average price of $1.44, for a total transaction of $38,953.44.
• On Tuesday, August 18th, Brian Jg Pereira sold 27,826 shares of ProKidney stock. The stock was sold at an average price of $1.37, for a total transaction of $38,121.62.

ProKidney Stock Performance

Shares of NASDAQ:PROK traded down $0.06 during midday trading on Thursday, reaching $1.42. 1,828,075 shares of the company's stock were exchanged, compared to its average volume of 1,027,994. The company's 50 day simple moving average is $1.67 and its two-hundred day simple moving average is $1.85. ProKidney Corp. has a 12 month low of $1.30 and a 12 month high of $3.48. The firm has a market capitalization of $429.29 million, a PE ratio of -2.58 and a beta of 1.66.

ProKidney (NASDAQ:PROK - Get Free Report) last posted its earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The company had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.19 million. On average, research analysts anticipate that ProKidney Corp. will post -0.51 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. HC Wainwright reiterated a "buy" rating and issued a $12.00 price objective on shares of ProKidney in a research note on Monday, May 18th. Wall Street Zen downgraded ProKidney from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 16th. Finally, Weiss Ratings raised ProKidney from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, ProKidney has a consensus rating of "Moderate Buy" and an average price target of $12.00.

Institutional Investors Weigh In On ProKidney

Hedge funds have recently made changes to their positions in the company. AQR Capital Management LLC lifted its holdings in ProKidney by 106.4% during the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock valued at $46,000 after purchasing an additional 27,098 shares during the last quarter. JPMorgan Chase & Co. boosted its position in ProKidney by 3,024.9% in the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company's stock valued at $988,000 after buying an additional 1,615,243 shares in the last quarter. Marshall Wace LLP bought a new stake in ProKidney during the second quarter worth about $274,000. Jane Street Group LLC bought a new stake in ProKidney during the second quarter worth about $350,000. Finally, Bank of America Corp DE increased its holdings in shares of ProKidney by 12.4% during the second quarter. Bank of America Corp DE now owns 846,154 shares of the company's stock worth $501,000 after buying an additional 93,322 shares in the last quarter. Institutional investors and hedge funds own 51.59% of the company's stock.

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.

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