ProKidney (NASDAQ:PROK) Sees Large Volume Increase

ProKidney Corp. (NASDAQ:PROK - Get Free Report) saw strong trading volume on Monday . 699,198 shares traded hands during trading, an increase of 8% from the previous session's volume of 650,333 shares.The stock last traded at $2.37 and had previously closed at $2.04.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Bank of America cut ProKidney from a "buy" rating to a "neutral" rating in a research report on Tuesday, January 2nd. Morgan Stanley assumed coverage on ProKidney in a research report on Thursday, March 7th. They set an "equal weight" rating and a $3.00 price objective for the company.

ProKidney Stock Performance

The stock has a market capitalization of $623.80 million, a price-to-earnings ratio of -4.77 and a beta of 1.08. The business has a 50-day moving average of $1.60 and a 200-day moving average of $1.75.

ProKidney (NASDAQ:PROK - Get Free Report) last announced its earnings results on Thursday, March 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.19) by $0.10. On average, research analysts predict that ProKidney Corp. will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling at ProKidney

In other ProKidney news, SVP Darin J. Weber sold 84,103 shares of the company's stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $1.73, for a total transaction of $145,498.19. Following the completion of the sale, the senior vice president now directly owns 189,670 shares of the company's stock, valued at approximately $328,129.10. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other ProKidney news, SVP Darin J. Weber sold 17,238 shares of the company's stock in a transaction that occurred on Tuesday, April 16th. The stock was sold at an average price of $2.50, for a total transaction of $43,095.00. Following the completion of the sale, the senior vice president now directly owns 172,432 shares of the company's stock, valued at approximately $431,080. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Darin J. Weber sold 84,103 shares of the stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 189,670 shares of the company's stock, valued at $328,129.10. The disclosure for this sale can be found here. Insiders sold a total of 101,641 shares of company stock valued at $189,100 in the last ninety days. Insiders own 44.99% of the company's stock.

Hedge Funds Weigh In On ProKidney

Large investors have recently modified their holdings of the business. Jump Financial LLC purchased a new position in ProKidney in the 3rd quarter valued at approximately $216,000. SG Americas Securities LLC purchased a new position in ProKidney in the 3rd quarter valued at approximately $78,000. Finally, Federated Hermes Inc. increased its stake in ProKidney by 10,984.7% in the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company's stock valued at $202,000 after purchasing an additional 112,264 shares in the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.