ProKidney (NASDAQ:PROK) Shares Down 3.8%

ProKidney Corp. (NASDAQ:PROK)’s share price dropped 3.8% during mid-day trading on Tuesday . The stock traded as low as $2.30 and last traded at $2.30. Approximately 198,024 shares changed hands during mid-day trading, a decline of 74% from the average daily volume of 764,938 shares. The stock had previously closed at $2.39.

Wall Street Analyst Weigh In

Several research firms have weighed in on PROK. Bank of America lifted their price objective on shares of ProKidney from $3.00 to $4.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 29th. Jefferies Financial Group lowered their price objective on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 10th.

ProKidney Stock Performance

The firm’s 50-day simple moving average is $2.96 and its two-hundred day simple moving average is $2.11.

ProKidney (NASDAQ:PROK) last issued its earnings results on Friday, May 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. As a group, equities analysts anticipate that ProKidney Corp. will post -0.56 earnings per share for the current year.

Insider Buying and Selling at ProKidney

In other ProKidney news, SVP Darin J. Weber sold 16,438 shares of ProKidney stock in a transaction on Monday, April 22nd. The shares were 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 of the company’s stock, valued at approximately $389,536.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other ProKidney news, Director Pablo G. Legorreta acquired 22,617,909 shares of ProKidney stock in a transaction that occurred on Thursday, June 13th. The stock was acquired at an average price of $2.42 per share, with a total value of $54,735,339.78. Following the purchase, the director now owns 22,617,909 shares in the company, valued at $54,735,339.78. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Darin J. Weber sold 16,438 shares of ProKidney stock in a transaction on Monday, April 22nd. The shares were 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 directly owns 155,194 shares of the company’s stock, valued at approximately $389,536.94. The disclosure for this sale can be found here. Insiders sold 34,476 shares of company stock valued at $113,622 in the last quarter. Company insiders own 41.49% of the company’s stock.

Institutional Investors Weigh In On ProKidney

Several institutional investors and hedge funds have recently modified their holdings of PROK. Zullo Investment Group Inc. acquired a new position in ProKidney during the 1st quarter worth $32,000. SG Americas Securities LLC lifted its position in ProKidney by 174.2% during the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock worth $83,000 after acquiring an additional 29,749 shares during the last quarter. Finally, Federated Hermes Inc. lifted its position in ProKidney by 10,984.7% during the 4th 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 last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

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.