ProKidney (NASDAQ:PROK) Hits New 1-Year High - Time to Buy?

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

Wall Street Analyst Weigh In

Several analysts have recently commented on the company. Bank of America lowered ProKidney from a "neutral" rating to an "underperform" rating and decreased their price objective for the company from $3.00 to $1.00 in a report on Monday, June 30th. Wall Street Zen upgraded shares of ProKidney from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Citigroup restated a "buy" rating and set a $9.00 target price (up from $6.00) on shares of ProKidney in a research report on Wednesday. One 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. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $5.33.

ProKidney Price Performance

The firm has a market cap of $1.33 billion, a PE ratio of -7.57 and a beta of 1.26. The business's 50 day moving average price is $1.05 and its 200 day moving average price is $1.18.

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 company had revenue of $0.23 million for the quarter. As a group, analysts predict that ProKidney Corp. will post -0.57 earnings per share for the current year.

Insider Transactions at ProKidney

In related news, insider Darin J. Weber sold 103,480 shares of the business'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 transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Control Empresarial De Capital purchased 387,393 shares of the stock in a transaction that occurred on Tuesday, April 22nd. The shares were acquired at an average price of $0.71 per share, for a total transaction of $275,049.03. Following the completion of the transaction, the insider directly owned 73,842,723 shares of the company's stock, valued at $52,428,333.33. The trade was a 0.53% increase in their position. The disclosure for this purchase can be found here. Insiders have bought 755,498 shares of company stock valued at $545,766 in the last three months. Corporate insiders own 41.49% of the company's stock.

Hedge Funds Weigh In On ProKidney

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC boosted its position in ProKidney by 1.3% during the fourth quarter. Geode Capital Management LLC now owns 2,231,930 shares of the company's stock worth $3,773,000 after acquiring an additional 27,996 shares during the last quarter. Bleichroeder LP boosted its position in ProKidney by 8.4% during the fourth quarter. Bleichroeder LP now owns 2,000,000 shares of the company's stock worth $3,380,000 after acquiring an additional 155,000 shares during the last quarter. Northern Trust Corp boosted its holdings in ProKidney by 7.4% in the 4th quarter. Northern Trust Corp now owns 890,907 shares of the company's stock valued at $1,506,000 after purchasing an additional 61,206 shares during the last quarter. Hennion & Walsh Asset Management Inc. boosted 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 valued at $740,000 after purchasing an additional 275,630 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its holdings in ProKidney by 8.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 825,647 shares of the company's stock valued at $723,000 after purchasing an additional 65,860 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.