ProKidney (NASDAQ:PROK) Director Sells 222,948 Shares

ProKidney Corp. (NASDAQ:PROK) Director Brian Jg Pereira sold 222,948 shares of the company’s stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $1.42, for a total transaction of $316,586.16. Following the completion of the sale, the director directly owned 54,103 shares of the company’s stock, valued at approximately $76,826.26. This trade represents a 80.47% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Brian Jg Pereira also recently made the following trade(s):

• On Thursday, August 20th, Brian Jg Pereira sold 27,052 shares of ProKidney stock. The stock was sold at an average price of $1.42, for a total transaction of $38,413.84.
• On Wednesday, August 19th, Brian Jg Pereira sold 222,949 shares of ProKidney stock. The shares were sold at an average price of $1.44, for a total transaction of $321,046.56.
• On Wednesday, August 19th, Brian Jg Pereira sold 27,051 shares of ProKidney stock. The shares were sold at an average price of $1.44, for a total transaction of $38,953.44.
• On Tuesday, August 18th, Brian Jg Pereira sold 229,338 shares of ProKidney stock. The shares were sold at an average price of $1.37, for a total transaction of $314,193.06.
• On Tuesday, August 18th, Brian Jg Pereira sold 27,826 shares of ProKidney stock. The stock was sold at an average price of $1.37, for a total transaction of $38,121.62.

ProKidney Stock Down 4.1%

Shares of NASDAQ PROK traded down $0.06 during midday trading on Thursday, reaching $1.42. 1,828,075 shares of the company’s stock traded hands, compared to its average volume of 1,027,994. The stock’s 50 day simple moving average is $1.67 and its 200-day simple moving average is $1.85. ProKidney Corp. has a one year low of $1.30 and a one year high of $3.48. The company has a market cap of $429.29 million, a price-to-earnings ratio of -2.58 and a beta of 1.66.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings data on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.19 million. Equities analysts predict that ProKidney Corp. will post -0.51 EPS for the current fiscal year.

Institutional Investors Weigh In On ProKidney

A number of hedge funds and other institutional investors have recently bought and sold shares of PROK. Cetera Investment Advisers purchased a new stake in ProKidney during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new position in ProKidney in the first quarter worth $25,000. SummitTX Capital L.P. purchased a new position in ProKidney in the first quarter worth $26,000. FNY Investment Advisers LLC increased its position in shares of ProKidney by 2,000.0% during the second quarter. FNY Investment Advisers LLC now owns 21,000 shares of the company’s stock worth $42,000 after purchasing an additional 20,000 shares in the last quarter. Finally, EntryPoint Capital LLC acquired a new position in shares of ProKidney during the fourth quarter worth $65,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on PROK shares. Weiss Ratings raised ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. Wall Street Zen downgraded ProKidney from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of ProKidney in a research note on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.00.

About ProKidney

ProKidney, Inc (NASDAQ: PROK) is a clinical-stage biotechnology company focused on developing cell-based therapies for kidney diseases. The company’s research and development activities center on harnessing human-derived proximal tubule cells to address conditions such as acute kidney injury (AKI) and chronic kidney disease (CKD). By targeting the underlying cellular mechanisms of renal injury and dysfunction, ProKidney aims to offer novel regenerative medicine approaches that go beyond current supportive care options.

ProKidney’s lead programs utilize proprietary methods for isolating and expanding renal epithelial cells to create injectable therapeutic products.