ProKidney (NASDAQ:PROK) Shares Gap Up to $2.39

ProKidney Corp. (NASDAQ:PROK)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $2.39, but opened at $2.50. ProKidney shares last traded at $2.36, with a volume of 59,957 shares trading hands.

Wall Street Analyst Weigh In

PROK has been the subject of several recent research reports. Guggenheim assumed coverage on ProKidney in a report on Tuesday. They set a “buy” rating and a $6.00 price target for the company. Jefferies Financial Group reduced their target price on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a research note on Monday, June 10th. Finally, Bank of America dropped their price target on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th.

ProKidney Stock Down 0.4 %

The stock has a fifty day moving average of $2.28 and a two-hundred day moving average of $2.34. The stock has a market cap of $550.43 million, a price-to-earnings ratio of -4.21 and a beta of 1.10.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. On average, research analysts expect that ProKidney Corp. will post -0.44 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zullo Investment Group Inc. purchased a new stake in shares of ProKidney during the 1st quarter worth approximately $32,000. AQR Capital Management LLC acquired a new position in ProKidney during the second quarter worth $50,000. The Manufacturers Life Insurance Company purchased a new stake in ProKidney during the second quarter worth $60,000. Susquehanna Fundamental Investments LLC acquired a new stake in ProKidney in the second quarter valued at $106,000. Finally, Marshall Wace LLP purchased a new position in shares of ProKidney in the second quarter valued at $124,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.