ProKidney (NASDAQ:PROK) Shares Gap Down - Should You Sell?

Shares of ProKidney Corp. (NASDAQ:PROK - Get Free Report) gapped down before the market opened on Friday . The stock had previously closed at $5.18, but opened at $4.81. ProKidney shares last traded at $5.17, with a volume of 3,889,333 shares.

Wall Street Analyst Weigh In

PROK has been the topic of a number of research reports. 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 lowered their target price for the stock from $3.00 to $1.00 in a report on Monday, June 30th. Finally, Citigroup raised their target price on ProKidney from $6.00 to $9.00 and gave the stock a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $5.33.

ProKidney Price Performance

The stock has a fifty day moving average price of $0.97 and a two-hundred day moving average price of $1.16. The company has a market cap of $1.46 billion, a P/E ratio of -8.42 and a beta of 1.26.

ProKidney (NASDAQ:PROK - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. The company had revenue of $0.23 million during the quarter. Equities analysts predict that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling at ProKidney

In other news, insider Darin J. Weber sold 103,480 shares of ProKidney stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $3.02, for a total value of $312,509.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Control Empresarial De Capital purchased 387,393 shares of ProKidney stock in a transaction dated 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 completion of the transaction, the insider owned 73,842,723 shares of the company's stock, valued at $52,428,333.33. This represents a 0.53% increase in their position. The disclosure for this purchase can be found here. Over the last 90 days, insiders acquired 755,498 shares of company stock worth $545,766. Corporate insiders own 41.49% of the company's stock.

Hedge Funds Weigh In On ProKidney

Hedge funds have recently made changes to their positions in the stock. ProShare Advisors LLC grew its position in shares of ProKidney by 57.3% in the fourth quarter. ProShare Advisors LLC now owns 30,879 shares of the company's stock valued at $52,000 after purchasing an additional 11,250 shares in the last quarter. Sei Investments Co. purchased a new position in ProKidney during the fourth quarter worth about $69,000. Susquehanna Fundamental Investments LLC purchased a new position in ProKidney during the fourth quarter worth about $88,000. AQR Capital Management LLC grew its position in ProKidney by 106.4% during the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock worth $46,000 after buying an additional 27,098 shares in the last quarter. Finally, Wells Fargo & Company MN grew its position in ProKidney by 51.7% during the fourth quarter. Wells Fargo & Company MN now owns 54,098 shares of the company's stock worth $91,000 after buying an additional 18,431 shares in the last quarter. 51.59% of the stock is currently 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.

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