ProKidney Corp. (NASDAQ:PROK – Get Free Report) shares gapped down before the market opened on Tuesday after Jefferies Financial Group lowered their price target on the stock from $15.00 to $6.00. The stock had previously closed at $3.02, but opened at $2.56. Jefferies Financial Group currently has a buy rating on the stock. ProKidney shares last traded at $2.69, with a volume of 156,237 shares traded.
A number of other brokerages also recently commented on PROK. Bank of America increased their price objective on shares of ProKidney from $3.00 to $4.00 and gave the company a “neutral” rating in a research report on Wednesday, May 29th. 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.
Insider Activity at ProKidney
In related news, insider Darin J. Weber sold 17,238 shares of the firm’s stock in a transaction that occurred on Monday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $70,331.04. Following the transaction, the insider now owns 137,956 shares in the company, valued at approximately $562,860.48. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other ProKidney news, insider Darin J. Weber sold 17,238 shares of ProKidney stock in a transaction on Monday, May 20th. The shares were sold at an average price of $4.08, for a total value of $70,331.04. Following the transaction, the insider now directly owns 137,956 shares in the company, valued at $562,860.48. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Control Empresarial De Capital bought 30,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average price of $1.43 per share, with a total value of $42,900.00. Following the purchase, the insider now directly owns 63,295,645 shares of the company’s stock, valued at approximately $90,512,772.35. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 127,000 shares of company stock valued at $183,700 and have sold 136,117 shares valued at $302,723. Insiders own 41.49% of the company’s stock.
Institutional Investors Weigh In On ProKidney
Large investors have recently modified their holdings of the stock. Federated Hermes Inc. grew its holdings in 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. Jump Financial LLC acquired a new stake in ProKidney in the 3rd quarter valued at about $216,000. SG Americas Securities LLC increased its holdings in ProKidney by 174.2% during the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock valued at $83,000 after acquiring an additional 29,749 shares in the last quarter. Finally, Zullo Investment Group Inc. acquired a new position in ProKidney during the first quarter worth about $32,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.
ProKidney Price Performance
The firm has a market capitalization of $555.00 million, a price-to-earnings ratio of -4.35 and a beta of 1.20. The firm’s 50-day moving average price is $2.75 and its 200 day moving average price is $1.99.
ProKidney (NASDAQ:PROK – Get Free Report) last released its quarterly earnings results on Friday, May 10th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.09. On average, analysts predict that ProKidney Corp. will post -0.61 earnings per share for the current fiscal year.
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.