ProKidney (NASDAQ:PROK) Sets New 12-Month High - Time to Buy?

ProKidney Corp. (NASDAQ:PROK - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $7.13 and last traded at $5.94, with a volume of 120847536 shares traded. The stock had previously closed at $3.73.

Wall Street Analyst Weigh In

PROK has been the topic of a number of research reports. Citigroup increased their price objective on shares of ProKidney from $6.00 to $9.00 and gave the company a "buy" rating in a research note on Wednesday. Wall Street Zen raised shares of ProKidney from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Bank of America lowered shares of ProKidney from a "neutral" rating to an "underperform" rating and lowered their price target for the company from $3.00 to $1.00 in a research report on Monday, June 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $5.33.

ProKidney Trading Up 16.4%

The company has a market capitalization of $1.27 billion, a price-to-earnings ratio of -7.23 and a beta of 1.26. The company's 50 day simple moving average is $0.89 and its 200-day simple moving average is $1.14.

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 the consensus estimate 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 year.

Insider Buying and Selling at ProKidney

In other ProKidney news, insider Control Empresarial De Capital purchased 1,032,218 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were purchased at an average cost of $0.61 per share, with a total value of $629,652.98. Following the purchase, the insider owned 72,592,325 shares in the company, valued at approximately $44,281,318.25. This represents a 1.44% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Darin J. Weber sold 103,480 shares of the company's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total transaction of $312,509.60. The disclosure for this sale can be found here. Insiders purchased 1,787,716 shares of company stock valued at $1,175,419 over the last quarter. Insiders own 41.49% of the company's stock.

Hedge Funds Weigh In On ProKidney

A number of hedge funds have recently made changes to their positions in the stock. BNP Paribas Financial Markets purchased a new position in shares of ProKidney in the 4th quarter worth $110,000. Bank of America Corp DE lifted its stake in shares of ProKidney by 3.2% in the 4th quarter. Bank of America Corp DE now owns 539,232 shares of the company's stock valued at $911,000 after purchasing an additional 16,538 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its holdings in shares of ProKidney by 48.5% during 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. Barclays PLC increased its position in ProKidney by 17.4% during the 4th 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 raised 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 buying an additional 39,216 shares during the period. Institutional investors and hedge funds own 51.59% of the company's stock.

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.