ProKidney (NASDAQ:PROK) Sees Unusually-High Trading Volume

ProKidney Corp. (NASDAQ:PROK) saw unusually-strong trading volume on Monday . Approximately 1,138,769 shares were traded during trading, an increase of 108% from the previous session’s volume of 547,226 shares.The stock last traded at $2.29 and had previously closed at $1.75.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on PROK shares. Morgan Stanley started coverage on ProKidney in a research report on Thursday, March 7th. They set an “equal weight” rating and a $3.00 price objective for the company. Bank of America cut ProKidney from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 2nd.

ProKidney Trading Up 30.1 %

The company has a fifty day simple moving average of $1.53 and a 200-day simple moving average of $1.80.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Thursday, March 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.10. On average, equities research analysts expect that ProKidney Corp. will post -0.65 EPS for the current fiscal year.

Institutional Trading of ProKidney

Several hedge funds have recently bought and sold shares of PROK. BlackRock Inc. grew its holdings in ProKidney by 978.2% during the second quarter. BlackRock Inc. now owns 3,316,973 shares of the company’s stock valued at $37,117,000 after purchasing an additional 3,009,342 shares during the period. State Street Corp boosted its stake in shares of ProKidney by 1,540.0% in the second quarter. State Street Corp now owns 990,259 shares of the company’s stock worth $11,081,000 after acquiring an additional 929,878 shares during the period. Geode Capital Management LLC boosted its stake in shares of ProKidney by 450.9% in the second quarter. Geode Capital Management LLC now owns 760,823 shares of the company’s stock worth $8,514,000 after acquiring an additional 622,728 shares during the period. Morgan Stanley boosted its stake in shares of ProKidney by 5.8% in the fourth quarter. Morgan Stanley now owns 10,947,495 shares of the company’s stock worth $75,100,000 after acquiring an additional 595,839 shares during the period. Finally, Northern Trust Corp boosted its stake in shares of ProKidney by 1,451.6% in the second quarter. Northern Trust Corp now owns 452,186 shares of the company’s stock worth $5,060,000 after acquiring an additional 423,043 shares during the period. Institutional investors own 51.59% of the company’s stock.

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.