ProKidney (NASDAQ:PROK) Shares Gap Up - Should You Buy?

ProKidney Corp. (NASDAQ:PROK - Get Free Report)'s stock price gapped up before the market opened on Monday . The stock had previously closed at $3.15, but opened at $3.29. ProKidney shares last traded at $3.14, with a volume of 490,991 shares traded.

Wall Street Analyst Weigh In

PROK has been the topic of several research reports. UBS Group boosted their price objective on shares of ProKidney from $4.00 to $8.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Bank of America downgraded shares of ProKidney from a "neutral" rating to an "underperform" rating and dropped their price objective for the stock from $3.00 to $1.00 in a report on Monday, June 30th. Citigroup restated a "buy" rating and set a $9.00 price objective (up previously from $6.00) on shares of ProKidney in a report on Wednesday, July 9th. Wall Street Zen upgraded shares of ProKidney from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Guggenheim restated a "buy" rating and set a $7.00 price objective (up previously from $6.00) on shares of ProKidney in a report on Monday, July 14th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $6.25.

ProKidney Price Performance

The firm has a market cap of $961.23 million, a P/E ratio of -5.47 and a beta of 1.26. The stock's 50 day moving average is $1.47 and its two-hundred day moving average is $1.27.

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 business had revenue of $0.23 million during the quarter. As a group, research analysts forecast that ProKidney Corp. will post -0.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other ProKidney news, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 41.49% of the stock is currently owned by insiders.

Institutional Trading of ProKidney

Several large investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC grew its stake 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 during the last quarter. Nuveen LLC bought a new stake in ProKidney during the first quarter worth about $233,000. Deutsche Bank AG lifted its position in shares of ProKidney by 49.4% during the first quarter. Deutsche Bank AG now owns 86,337 shares of the company's stock worth $76,000 after purchasing an additional 28,546 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of ProKidney by 8.7% during the first quarter. Charles Schwab Investment Management Inc. now owns 825,647 shares of the company's stock worth $723,000 after purchasing an additional 65,860 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of ProKidney by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company's stock worth $210,000 after purchasing an additional 9,903 shares in the last quarter. 51.59% of the stock is owned by 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.