ProKidney (NASDAQ:PROK) Stock Price Up 7.5% Following Analyst Upgrade

ProKidney Corp. (NASDAQ:PROK - Get Free Report) was up 7.5% on Tuesday after Wall Street Zen upgraded the stock from a sell rating to a hold rating. The stock traded as high as $4.30 and last traded at $3.97. Approximately 23,870,136 shares traded hands during mid-day trading, an increase of 590% from the average daily volume of 3,460,439 shares. The stock had previously closed at $3.69.

Insider Activity

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 stock was purchased at an average price of $0.71 per share, for a total transaction of $275,049.03. Following the completion of the purchase, the insider directly owned 73,842,723 shares in the company, valued at approximately $52,428,333.33. This trade represents a 0.53% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Darin J. Weber sold 103,480 shares of the firm's stock in a transaction that occurred on 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 company insiders.

Institutional Trading of ProKidney

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of New York Mellon Corp increased its holdings in shares of ProKidney by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company's stock valued at $210,000 after purchasing an additional 9,903 shares in the last quarter. Charles Schwab Investment Management Inc. boosted 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. ProShare Advisors LLC boosted its stake in 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 acquiring an additional 11,250 shares during the last quarter. Bank of America Corp DE boosted its stake in ProKidney by 3.2% in the fourth quarter. Bank of America Corp DE now owns 539,232 shares of the company's stock valued at $911,000 after acquiring an additional 16,538 shares during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in ProKidney by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 54,098 shares of the company's stock valued at $91,000 after acquiring an additional 18,431 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company's stock.

ProKidney Price Performance

The business's 50 day simple moving average is $1.28 and its 200-day simple moving average is $1.23. The stock has a market capitalization of $922.01 million, a P/E ratio of -5.25 and a beta of 1.26.

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

About ProKidney

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.