ProKidney Corp. (NASDAQ:PROK) Insider Darin J. Weber Sells 103,480 Shares

ProKidney Corp. (NASDAQ:PROK - Get Free Report) insider Darin J. Weber sold 103,480 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $3.02, for a total transaction of $312,509.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

ProKidney Stock Performance

Shares of PROK stock traded down $0.64 during trading hours on Friday, reaching $4.54. The company had a trading volume of 17,597,159 shares, compared to its average volume of 3,265,829. The business has a fifty day moving average price of $0.97 and a 200-day moving average price of $1.16. ProKidney Corp. has a one year low of $0.46 and a one year high of $7.13. The firm has a market cap of $1.33 billion, a PE ratio of -7.57 and a beta of 1.26.

ProKidney (NASDAQ:PROK - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.13) EPS for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. The company had revenue of $0.23 million during the quarter. Equities research analysts forecast that ProKidney Corp. will post -0.57 EPS for the current year.

Institutional Trading of ProKidney

Large investors have recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. lifted its holdings in ProKidney by 48.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 844,277 shares of the company's stock valued at $740,000 after purchasing an additional 275,630 shares in the last quarter. Nuveen LLC purchased a new position in ProKidney during the first quarter valued at approximately $233,000. Bleichroeder LP lifted its holdings in ProKidney by 8.4% during the fourth quarter. Bleichroeder LP now owns 2,000,000 shares of the company's stock valued at $3,380,000 after purchasing an additional 155,000 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ProKidney by 8.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 825,647 shares of the company's stock valued at $723,000 after purchasing an additional 65,860 shares in the last quarter. Finally, BNP Paribas Financial Markets purchased a new position in shares of ProKidney in the fourth quarter worth $110,000. 51.59% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the stock. Citigroup restated a "buy" rating and set a $9.00 price objective (up from $6.00) on shares of ProKidney in a research note on Wednesday. Wall Street Zen upgraded shares of ProKidney from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Bank of America lowered shares of ProKidney from a "neutral" rating to an "underperform" rating and reduced their price objective for the company from $3.00 to $1.00 in a research note on Monday, June 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat.com, ProKidney currently has an average rating of "Hold" and a consensus target price of $5.33.

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.