ProKidney (NASDAQ:PROK) Shares Down 7.4%

ProKidney Corp. (NASDAQ:PROK) shares traded down 7.4% during trading on Thursday . The stock traded as low as $2.48 and last traded at $2.51. 61,369 shares changed hands during trading, a decline of 91% from the average session volume of 678,606 shares. The stock had previously closed at $2.71.

Analysts Set New Price Targets

Several analysts have recently commented on the stock. Morgan Stanley initiated coverage on shares of ProKidney in a research note on Thursday, March 7th. They set an “equal weight” rating and a $3.00 price target on the stock. Bank of America cut shares of ProKidney from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd.

ProKidney Stock Down 21.8 %

The business’s 50 day simple moving average is $1.72 and its 200-day simple moving average is $1.74.

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

Insiders Place Their Bets

In other ProKidney news, SVP Darin J. Weber sold 16,438 shares of the stock in a transaction on Monday, April 22nd. The shares were sold at an average price of $2.51, for a total value of $41,259.38. Following the sale, the senior vice president now directly owns 155,194 shares in the company, valued at $389,536.94. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other ProKidney news, SVP Darin J. Weber sold 17,238 shares of the stock in a transaction on Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total value of $43,095.00. Following the sale, the senior vice president now directly owns 172,432 shares in the company, valued at $431,080. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Darin J. Weber sold 16,438 shares of the stock in a transaction on Monday, April 22nd. The stock was sold at an average price of $2.51, for a total transaction of $41,259.38. Following the completion of the sale, the senior vice president now owns 155,194 shares in the company, valued at $389,536.94. The disclosure for this sale can be found here. Over the last three months, insiders have sold 118,879 shares of company stock worth $232,392. Company insiders own 44.99% of the company’s stock.

Institutional Investors Weigh In On ProKidney

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Zullo Investment Group Inc. acquired a new stake in shares of ProKidney during the first quarter worth $32,000. SG Americas Securities LLC acquired a new stake in shares of ProKidney during the third quarter worth $78,000. Federated Hermes Inc. raised its holdings in shares of ProKidney by 10,984.7% during the fourth quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after acquiring an additional 112,264 shares during the period. Finally, Jump Financial LLC acquired a new stake in shares of ProKidney during the third quarter worth $216,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.