ProKidney (NASDAQ:PROK) Shares Up 7.5% After Analyst Upgrade

ProKidney Corp. (NASDAQ:PROK - Get Free Report)'s share price rose 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 changed 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 Buying and Selling at ProKidney

In other news, insider Darin J. Weber sold 103,480 shares of the 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 SEC, which is available through this hyperlink. Also, insider Control Empresarial De Capital acquired 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, for a total transaction of $275,049.03. Following the completion of the purchase, the insider owned 73,842,723 shares of the company's stock, valued at approximately $52,428,333.33. This represents a 0.53% increase in their position. The disclosure for this purchase can be found here. Company insiders own 41.49% of the company's stock.

Institutional Trading of ProKidney

Several hedge funds have recently modified their holdings of PROK. AQR Capital Management LLC raised its stake in ProKidney by 106.4% in the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock valued at $46,000 after buying an additional 27,098 shares in the last quarter. ProShare Advisors LLC increased its position in shares of ProKidney by 57.3% during the fourth quarter. ProShare Advisors LLC now owns 30,879 shares of the company's stock worth $52,000 after purchasing an additional 11,250 shares in the last quarter. Sei Investments Co. acquired a new stake in shares of ProKidney during the fourth quarter worth about $69,000. Deutsche Bank AG grew its holdings 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 buying an additional 28,546 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in shares of ProKidney during the fourth quarter worth about $88,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

ProKidney Stock Down 1.2%

The stock has a fifty day moving average of $1.22 and a 200-day moving average of $1.22. The stock has a market cap of $1.08 billion, a PE ratio of -6.16 and a beta of 1.26.

ProKidney (NASDAQ:PROK - Get Free Report) last announced its quarterly earnings data 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. Equities research analysts forecast 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.