ProKidney (NASDAQ:PROK) Shares Gap Up After Analyst Upgrade

Shares of ProKidney Corp. (NASDAQ:PROK - Get Free Report) gapped up prior to trading on Monday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock had previously closed at $4.54, but opened at $4.78. ProKidney shares last traded at $4.17, with a volume of 4,668,901 shares trading hands.

Insiders Place Their Bets

In other ProKidney news, insider Control Empresarial De Capital purchased 387,393 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were purchased at an average cost of $0.71 per share, with a total value of $275,049.03. Following the transaction, the insider directly 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 purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Darin J. Weber sold 103,480 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was 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. 41.49% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On ProKidney

Several institutional investors and hedge funds have recently added to or reduced their stakes in PROK. Bank of New York Mellon Corp lifted its position in ProKidney by 20.6% during the 4th quarter. Bank of New York Mellon Corp now owns 229,770 shares of the company's stock worth $388,000 after buying an additional 39,275 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its stake in ProKidney by 1.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 759,787 shares of the company's stock valued at $1,284,000 after acquiring an additional 10,069 shares during the last quarter. Sei Investments Co. acquired a new stake in ProKidney in the fourth quarter valued at $69,000. JPMorgan Chase & Co. lifted its stake in ProKidney by 41.8% in the fourth quarter. JPMorgan Chase & Co. now owns 66,415 shares of the company's stock valued at $112,000 after acquiring an additional 19,585 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of ProKidney by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,231,930 shares of the company's stock valued at $3,773,000 after purchasing an additional 27,996 shares during the period. 51.59% of the stock is owned by institutional investors.

ProKidney Stock Performance

The stock's fifty day moving average price is $1.22 and its 200-day moving average price is $1.22. The company has a market capitalization of $1.03 billion, a P/E ratio of -5.87 and a beta of 1.26.

ProKidney (NASDAQ:PROK - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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.

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.