ProKidney (NASDAQ:PROK) Rating Lowered to "Underperform" at Bank of America

ProKidney (NASDAQ:PROK - Get Free Report) was downgraded by Bank of America from a "neutral" rating to an "underperform" rating in a research report issued on Monday, MarketBeat reports. They presently have a $1.00 price target on the stock, down from their prior price target of $3.00. Bank of America's price objective would indicate a potential upside of 76.93% from the stock's current price.

Separately, Wall Street Zen upgraded shares of ProKidney from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd.

ProKidney Stock Down 4.5%

PROK stock traded down $0.03 during trading on Monday, hitting $0.57. 1,043,890 shares of the company's stock traded hands, compared to its average volume of 698,129. The firm has a market capitalization of $165.43 million, a P/E ratio of -0.94 and a beta of 1.26. ProKidney has a 1 year low of $0.46 and a 1 year high of $2.59. The business has a fifty day simple moving average of $0.79 and a two-hundred day simple moving average of $1.13.

ProKidney (NASDAQ:PROK - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03. The firm had revenue of $0.23 million for the quarter. On average, equities research analysts predict that ProKidney will post -0.57 EPS for the current fiscal year.

Insider Transactions at ProKidney

In other news, insider Control Empresarial De Capital acquired 1,032,218 shares of the company's stock in a transaction dated Thursday, April 10th. The shares were acquired at an average price of $0.61 per share, with a total value of $629,652.98. Following the purchase, the insider directly owned 72,592,325 shares of the company's stock, valued at $44,281,318.25. This trade represents a 1.44% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders purchased 1,787,716 shares of company stock valued at $1,175,419 over the last three months. Insiders own 41.49% of the company's stock.

Institutional Trading of ProKidney

A number of hedge funds have recently added to or reduced their stakes in PROK. BNP Paribas Financial Markets acquired a new position in shares of ProKidney in the fourth quarter worth about $110,000. Hennion & Walsh Asset Management Inc. raised its holdings in ProKidney by 48.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 844,277 shares of the company's stock worth $740,000 after purchasing an additional 275,630 shares during the period. Bank of America Corp DE boosted its position in ProKidney by 3.2% during the fourth quarter. Bank of America Corp DE now owns 539,232 shares of the company's stock worth $911,000 after purchasing an additional 16,538 shares in the last quarter. Barclays PLC boosted its position in ProKidney by 17.4% during the fourth quarter. Barclays PLC now owns 171,797 shares of the company's stock worth $290,000 after purchasing an additional 25,476 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its holdings in ProKidney by 17.3% in the fourth quarter. Nuveen Asset Management LLC now owns 266,366 shares of the company's stock valued at $450,000 after purchasing an additional 39,216 shares during the period. 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.