ProKidney Corp. (NASDAQ:PROK) Insider Sells $312,509.60 in Stock

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

ProKidney Price Performance

NASDAQ:PROK traded up $1.11 during mid-day trading on Thursday, reaching $5.45. The stock had a trading volume of 62,456,823 shares, compared to its average volume of 3,156,423. The company has a market capitalization of $1.59 billion, a price-to-earnings ratio of -9.01 and a beta of 1.26. ProKidney Corp. has a 1-year low of $0.46 and a 1-year high of $7.13. The stock's 50 day simple moving average is $0.89 and its two-hundred day simple moving average is $1.14.

ProKidney (NASDAQ:PROK - Get Free Report) last posted 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 firm had revenue of $0.23 million during the quarter. Sell-side analysts anticipate that ProKidney Corp. will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On ProKidney

A number of hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC grew its stake in ProKidney by 106.4% in the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock worth $46,000 after purchasing an additional 27,098 shares in the last quarter. Nuveen LLC bought a new position in ProKidney in the first quarter worth about $233,000. Deutsche Bank AG lifted its holdings in ProKidney by 49.4% in the first quarter. Deutsche Bank AG now owns 86,337 shares of the company's stock worth $76,000 after acquiring an additional 28,546 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in ProKidney by 8.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 825,647 shares of the company's stock worth $723,000 after acquiring an additional 65,860 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in ProKidney by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company's stock worth $210,000 after acquiring an additional 9,903 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PROK has been the subject of several recent analyst reports. Bank of America downgraded ProKidney from a "neutral" rating to an "underperform" rating and lowered their target price for the company from $3.00 to $1.00 in a research note on Monday, June 30th. Wall Street Zen upgraded ProKidney from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Finally, Citigroup raised their target price on ProKidney from $6.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat.com, ProKidney has a consensus rating of "Hold" and a consensus target price of $5.33.

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.