ProKidney (NASDAQ:PROK) Stock Price Down 10.5% - Should You Sell?

Key Points

• ProKidney Corp. stock price dropped 10.5% to $2.85 during mid-day trading, with trading volume decreasing by 71% from its average.
• Analysts have mixed views on ProKidney, with three buy ratings, one hold, and one sell, while the average target price is $6.25.
• The company reported a loss of ($0.13) earnings per share for the last quarter, outperforming analysts' expectations of a loss of ($0.16).

ProKidney Corp. (NASDAQ:PROK - Get Free Report)'s stock price traded down 10.5% during mid-day trading on Wednesday . The company traded as low as $2.86 and last traded at $2.85. 1,720,217 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 5,929,199 shares. The stock had previously closed at $3.18.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. UBS Group upped their price objective on ProKidney from $4.00 to $8.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Citigroup restated a "buy" rating and issued a $9.00 price objective (up previously from $6.00) on shares of ProKidney in a research note on Wednesday, July 9th. Bank of America downgraded ProKidney from a "neutral" rating to an "underperform" rating and cut their price target for the stock from $3.00 to $1.00 in a research note on Monday, June 30th. Wall Street Zen raised ProKidney from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Guggenheim reissued a "buy" rating and issued 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 assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $6.25.

ProKidney Trading Up 0.5%

The stock has a fifty day moving average of $1.99 and a two-hundred day moving average of $1.37. The company has a market capitalization of $756.34 million, a PE ratio of -4.31 and a beta of 1.76.

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

Insider Buying and Selling at ProKidney

In related news, insider Darin J. Weber sold 103,480 shares of ProKidney 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 41.49% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ProKidney

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