Nuveen LLC Acquires Shares of 266,366 ProKidney Corp. $PROK

Key Points

• Nuveen LLC has acquired 266,366 shares of ProKidney Corp. during Q1, valued at approximately $233,000, now holding 0.09% of the company.
• Insider Darin J. Weber sold 103,480 shares at an average price of $3.02, amounting to $312,509.60, while insiders own 41.49% of the stock.
• ProKidney's stock rating has seen a mix of upgrades and downgrades, with an average target price of $6.25 after evaluations from various analysts.

Nuveen LLC acquired a new position in shares of ProKidney Corp. (NASDAQ:PROK - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 266,366 shares of the company's stock, valued at approximately $233,000. Nuveen LLC owned about 0.09% of ProKidney as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of PROK. Bank of New York Mellon Corp lifted its holdings in shares of ProKidney by 4.3% in the 1st quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company's stock valued at $210,000 after buying an additional 9,903 shares during the period. BNP Paribas Financial Markets purchased a new position in ProKidney in the fourth quarter worth $110,000. Bank of America Corp DE lifted its holdings in ProKidney by 3.2% in the fourth quarter. Bank of America Corp DE now owns 539,232 shares of the company's stock valued at $911,000 after acquiring an additional 16,538 shares during the period. Hennion & Walsh Asset Management Inc. boosted its position in shares of ProKidney by 48.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 844,277 shares of the company's stock worth $740,000 after purchasing an additional 275,630 shares in the last quarter. Finally, Nuveen Asset Management LLC boosted its position in shares of ProKidney by 17.3% during the 4th quarter. Nuveen Asset Management LLC now owns 266,366 shares of the company's stock worth $450,000 after purchasing an additional 39,216 shares in the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PROK. Wall Street Zen upgraded shares of ProKidney from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Guggenheim reaffirmed a "buy" rating and set a $7.00 price target (up previously from $6.00) on shares of ProKidney in a research note on Monday, July 14th. UBS Group boosted their price objective on shares of ProKidney from $4.00 to $8.00 and gave the stock a "buy" rating in a research report on Tuesday, July 15th. Bank of America downgraded shares of ProKidney from a "neutral" rating to an "underperform" rating and dropped their target price for the company from $3.00 to $1.00 in a report on Monday, June 30th. Finally, Citigroup reaffirmed a "buy" rating and issued a $9.00 price target (up previously from $6.00) on shares of ProKidney in a report on Wednesday, July 9th. Three analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $6.25.

ProKidney Stock Up 38.0%

Shares of PROK stock traded up $0.82 during trading hours on Thursday, hitting $2.98. 13,501,579 shares of the company were exchanged, compared to its average volume of 1,449,797. ProKidney Corp. has a 1 year low of $0.46 and a 1 year high of $7.13. The firm has a fifty day moving average of $2.76 and a 200 day moving average of $1.50. The firm has a market cap of $876.95 million, a PE ratio of -5.23 and a beta of 1.74.

ProKidney (NASDAQ:PROK - Get Free Report) last posted its quarterly earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.14) by $0.01. The firm had revenue of $0.22 million for the quarter. Analysts expect that ProKidney Corp. will post -0.57 earnings per share for the current year.

Insiders Place Their Bets

In other ProKidney news, insider Darin J. Weber sold 103,480 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total value of $312,509.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 41.49% of the stock is currently owned by corporate insiders.

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.