ProKidney (NASDAQ:PROK) Director Sells 222,949 Shares

Key Points

• Director Brian Jg Pereira sold 222,949 ProKidney shares at an average price of $1.44, generating $321,046.56 and reducing his holdings by 50% to 222,948 shares. He also reported several additional sales from August 18–20.
• ProKidney shares fell to $1.42, near their 52-week low of $1.30, with a market capitalization of approximately $429 million. The company missed quarterly expectations, reporting a $0.15 loss per share versus a $0.14 consensus loss and revenue of $0.15 million versus $0.19 million expected.
• Analyst sentiment remains mixed: ProKidney has a consensus “Moderate Buy” rating and a $12 price target, while institutional investors own 51.59% of the company.

ProKidney Corp. (NASDAQ:PROK - Get Free Report) Director Brian Jg Pereira sold 222,949 shares of the business's stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $1.44, for a total transaction of $321,046.56. Following the transaction, the director owned 222,948 shares in the company, valued at $321,045.12. The trade was a 50.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Brian Jg Pereira also recently made the following trade(s):

• On Thursday, August 20th, Brian Jg Pereira sold 222,948 shares of ProKidney stock. The stock was sold at an average price of $1.42, for a total transaction of $316,586.16.
• On Thursday, August 20th, Brian Jg Pereira sold 27,052 shares of ProKidney stock. The stock was sold at an average price of $1.42, for a total transaction of $38,413.84.
• On Wednesday, August 19th, Brian Jg Pereira sold 27,051 shares of ProKidney stock. The stock was sold at an average price of $1.44, for a total transaction of $38,953.44.
• On Tuesday, August 18th, Brian Jg Pereira sold 229,338 shares of ProKidney stock. The shares were sold at an average price of $1.37, for a total transaction of $314,193.06.
• On Tuesday, August 18th, Brian Jg Pereira sold 27,826 shares of ProKidney stock. The shares were sold at an average price of $1.37, for a total transaction of $38,121.62.

ProKidney Stock Performance

Shares of NASDAQ PROK traded down $0.06 during trading on Thursday, hitting $1.42. 1,828,075 shares of the company traded hands, compared to its average volume of 1,027,994. The firm has a market capitalization of $429.29 million, a price-to-earnings ratio of -2.58 and a beta of 1.66. The business's fifty day moving average is $1.67 and its 200 day moving average is $1.85. ProKidney Corp. has a fifty-two week low of $1.30 and a fifty-two week high of $3.48.

ProKidney (NASDAQ:PROK - Get Free Report) last issued its earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The firm had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.19 million. On average, analysts predict that ProKidney Corp. will post -0.51 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have commented on PROK. Weiss Ratings raised ProKidney from a "sell (e+)" rating to a "sell (d-)" rating in a research note on Friday, July 10th. Wall Street Zen cut ProKidney from a "sell" rating to a "strong sell" rating in a report on Saturday, May 16th. Finally, HC Wainwright reissued a "buy" rating and issued a $12.00 price target on shares of ProKidney in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $12.00.

Hedge Funds Weigh In On ProKidney

Large investors have recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in ProKidney during the 1st quarter valued at about $25,000. SummitTX Capital L.P. purchased a new stake in shares of ProKidney in the first quarter worth approximately $26,000. Cetera Investment Advisers purchased a new stake in shares of ProKidney in the fourth quarter worth approximately $28,000. FNY Investment Advisers LLC lifted its holdings in shares of ProKidney by 2,000.0% in the second quarter. FNY Investment Advisers LLC now owns 21,000 shares of the company's stock valued at $42,000 after purchasing an additional 20,000 shares in the last quarter. Finally, AQR Capital Management LLC lifted its holdings in shares of ProKidney by 106.4% in the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock valued at $46,000 after purchasing an additional 27,098 shares in the last quarter. Institutional investors own 51.59% of the company's stock.

ProKidney Company Profile

ProKidney, Inc NASDAQ: PROK is a clinical-stage biotechnology company focused on developing cell-based therapies for kidney diseases. The company’s research and development activities center on harnessing human-derived proximal tubule cells to address conditions such as acute kidney injury (AKI) and chronic kidney disease (CKD). By targeting the underlying cellular mechanisms of renal injury and dysfunction, ProKidney aims to offer novel regenerative medicine approaches that go beyond current supportive care options.

ProKidney’s lead programs utilize proprietary methods for isolating and expanding renal epithelial cells to create injectable therapeutic products.

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