ProKidney (NASDAQ:PROK) Shares Gap Down After Insider Selling

ProKidney Corp. (NASDAQ:PROK - Get Free Report) gapped down prior to trading on Thursday after an insider sold shares in the company. The stock had previously closed at $2.84, but opened at $2.77. ProKidney shares last traded at $2.25, with a volume of 344,684 shares.

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

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PROK. Bank of America cut ProKidney from a "buy" rating to a "neutral" rating in a report on Tuesday, January 2nd. Morgan Stanley began coverage on ProKidney in a report on Thursday, March 7th. They issued an "equal weight" rating and a $3.00 price target on the stock.

ProKidney Stock Down 15.5 %

The stock has a market cap of $550.42 million, a P/E ratio of -4.21 and a beta of 1.08. The stock has a fifty day simple moving average of $1.59 and a 200-day simple moving average of $1.81.

ProKidney (NASDAQ:PROK - Get Free Report) last issued its earnings results on Thursday, March 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.19) by $0.10. Sell-side analysts anticipate that ProKidney Corp. will post -0.65 earnings per share for the current year.

Hedge Funds Weigh In On ProKidney

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PROK. BlackRock Inc. boosted its holdings in ProKidney by 978.2% during the second quarter. BlackRock Inc. now owns 3,316,973 shares of the company's stock worth $37,117,000 after buying an additional 3,009,342 shares during the last quarter. State Street Corp lifted its holdings in shares of ProKidney by 1,540.0% during the 2nd quarter. State Street Corp now owns 990,259 shares of the company's stock valued at $11,081,000 after purchasing an additional 929,878 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of ProKidney by 450.9% during the 2nd quarter. Geode Capital Management LLC now owns 760,823 shares of the company's stock valued at $8,514,000 after purchasing an additional 622,728 shares in the last quarter. Morgan Stanley lifted its holdings in shares of ProKidney by 5.8% during the 4th quarter. Morgan Stanley now owns 10,947,495 shares of the company's stock valued at $75,100,000 after purchasing an additional 595,839 shares in the last quarter. Finally, Northern Trust Corp lifted its holdings in shares of ProKidney by 1,451.6% during the 2nd quarter. Northern Trust Corp now owns 452,186 shares of the company's stock valued at $5,060,000 after purchasing an additional 423,043 shares in the last quarter. Institutional investors own 51.59% of the company's stock.

ProKidney Company Profile

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.