ProKidney (NASDAQ:PROK) Given New $9.00 Price Target at Citigroup

ProKidney (NASDAQ:PROK - Get Free Report) had its target price boosted by Citigroup from $6.00 to $9.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a "buy" rating on the stock. Citigroup's target price suggests a potential upside of 92.55% from the company's current price.

A number of other research firms also recently commented on PROK. Wall Street Zen raised ProKidney from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Bank of America cut ProKidney from a "neutral" rating to an "underperform" rating and dropped their price target for the stock from $3.00 to $1.00 in a research report on Monday, June 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat, ProKidney presently has an average rating of "Hold" and an average price target of $5.33.

ProKidney Stock Up 25.3%

NASDAQ:PROK traded up $0.94 during trading hours on Wednesday, reaching $4.67. 183,968,502 shares of the stock were exchanged, compared to its average volume of 4,914,110. The firm has a 50 day simple moving average of $0.82 and a 200-day simple moving average of $1.11. ProKidney has a 52 week low of $0.46 and a 52 week high of $7.13. The stock has a market capitalization of $1.37 billion, a P/E ratio of -7.79 and a beta of 1.26.

ProKidney (NASDAQ:PROK - Get Free Report) last released its 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 for the quarter. As a group, analysts expect that ProKidney will post -0.57 earnings per share for the current year.

Insider Buying and Selling at ProKidney

In related news, insider Control Empresarial De Capital purchased 387,393 shares of the company's stock in a transaction dated Tuesday, April 22nd. The shares were acquired at an average cost of $0.71 per share, for a total transaction of $275,049.03. Following the transaction, the insider owned 73,842,723 shares of the company's stock, valued at $52,428,333.33. This trade represents a 0.53% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders purchased 1,787,716 shares of company stock worth $1,175,419. 41.49% of the stock is currently owned by corporate insiders.

Institutional Trading of ProKidney

Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC increased its position in ProKidney by 106.4% in the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock valued at $46,000 after acquiring an additional 27,098 shares during the period. ProShare Advisors LLC increased its position in ProKidney by 57.3% in the 4th quarter. ProShare Advisors LLC now owns 30,879 shares of the company's stock valued at $52,000 after acquiring an additional 11,250 shares during the period. Sei Investments Co. acquired a new stake in ProKidney in the 4th quarter valued at approximately $69,000. Deutsche Bank AG increased its position in ProKidney by 49.4% in the 1st quarter. Deutsche Bank AG now owns 86,337 shares of the company's stock valued at $76,000 after acquiring an additional 28,546 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in ProKidney in the 4th quarter valued at approximately $88,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.

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