ProKidney Corp. (NASDAQ:PROK - Get Free Report)'s share price dropped 4.1% during mid-day trading on Friday . The stock traded as low as $3.36 and last traded at $3.38. Approximately 669,111 shares traded hands during mid-day trading, a decline of 81% from the average daily volume of 3,571,552 shares. The stock had previously closed at $3.52.
Wall Street Analysts Forecast Growth
PROK has been the subject of several recent analyst reports. Guggenheim reiterated a "buy" rating and issued a $7.00 price objective (up from $6.00) on shares of ProKidney in a report on Monday. UBS Group restated a "buy" rating and set a $8.00 target price (up from $4.00) on shares of ProKidney in a report on Tuesday. Citigroup restated a "buy" rating and set a $9.00 target price (up from $6.00) on shares of ProKidney in a report on Wednesday, July 9th. Bank of America cut shares of ProKidney from a "neutral" rating to an "underperform" rating and reduced their target price for the stock from $3.00 to $1.00 in a report on Monday, June 30th. Finally, Wall Street Zen upgraded shares of ProKidney from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, ProKidney has a consensus rating of "Hold" and a consensus price target of $6.25.
View Our Latest Stock Analysis on PROK
ProKidney Trading Down 5.8%
The firm has a market cap of $970.30 million, a PE ratio of -5.54 and a beta of 1.26. The company's 50-day moving average is $1.28 and its 200 day moving average is $1.23.
ProKidney (NASDAQ:PROK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The firm had revenue of $0.23 million during the quarter. On average, research analysts predict that ProKidney Corp. will post -0.57 EPS for the current fiscal year.
Insider Activity at ProKidney
In other ProKidney news, insider Darin J. Weber sold 103,480 shares of the stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total value of $312,509.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Control Empresarial De Capital bought 387,393 shares of the business's stock in a transaction on Tuesday, April 22nd. The stock was bought at an average price of $0.71 per share, with a total value of $275,049.03. Following the transaction, the insider owned 73,842,723 shares in the company, valued at approximately $52,428,333.33. This represents a 0.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. 41.49% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On ProKidney
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PROK. BNP Paribas Financial Markets bought a new position in shares of ProKidney during the 4th quarter valued at $110,000. Bank of America Corp DE raised its holdings in shares of ProKidney by 3.2% during 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. raised 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 valued at $740,000 after purchasing an additional 275,630 shares in the last quarter. Barclays PLC raised its holdings in shares of ProKidney by 17.4% during the 4th quarter. Barclays PLC now owns 171,797 shares of the company's stock valued at $290,000 after purchasing an additional 25,476 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its holdings in shares of ProKidney by 17.3% during the 4th 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 in the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.
About ProKidney
(
Get Free Report)
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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