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 company's stock in a transaction on Tuesday, July 8th. The stock was 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 SEC, which is accessible through this link.

ProKidney Price Performance

Shares of PROK traded up $0.61 during mid-day trading on Wednesday, hitting $4.34. The stock had a trading volume of 209,669,071 shares, compared to its average volume of 2,904,040. The business has a fifty day moving average price of $0.82 and a 200-day moving average price of $1.11. ProKidney Corp. has a 52 week low of $0.46 and a 52 week high of $7.09. The firm has a market cap of $1.27 billion, a P/E ratio of -7.23 and a beta of 1.26.

ProKidney (NASDAQ:PROK - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.16) by $0.03. The business had revenue of $0.23 million during the quarter. As a group, research analysts expect that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProKidney

A number of hedge funds have recently modified their holdings of the company. Bank of New York Mellon Corp increased its position in ProKidney by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company's stock valued at $210,000 after purchasing an additional 9,903 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in shares of ProKidney by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 759,787 shares of the company's stock valued at $1,284,000 after purchasing an additional 10,069 shares in the last quarter. ProShare Advisors LLC increased its position in shares of ProKidney by 57.3% during the fourth quarter. ProShare Advisors LLC now owns 30,879 shares of the company's stock valued at $52,000 after buying an additional 11,250 shares during the period. Bank of America Corp DE raised its stake in ProKidney by 3.2% in the fourth quarter. Bank of America Corp DE now owns 539,232 shares of the company's stock worth $911,000 after buying an additional 16,538 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in ProKidney by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 54,098 shares of the company's stock worth $91,000 after buying an additional 18,431 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

Analyst Ratings Changes

PROK has been the subject of several research analyst reports. Citigroup lifted their price objective on ProKidney from $6.00 to $9.00 and gave the stock a "buy" rating in a research report on Wednesday. Bank of America downgraded ProKidney from a "neutral" rating to an "underperform" rating and lowered their target price for the stock from $3.00 to $1.00 in a report on Monday, June 30th. Finally, Wall Street Zen upgraded ProKidney from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat, ProKidney presently has an average rating of "Hold" and a consensus price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.