ProKidney (NASDAQ:PROK) Shares Down 2.5% – Here’s What Happened

ProKidney Corp. (NASDAQ:PROK) shares fell 2.5% during mid-day trading on Thursday . The stock traded as low as $1.73 and last traded at $1.74. 127,838 shares traded hands during trading, a decline of 81% from the average session volume of 684,749 shares. The stock had previously closed at $1.78.

Analyst Ratings Changes

PROK has been the topic of a number of analyst reports. Bank of America decreased their price target on ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. JPMorgan Chase & Co. began coverage on shares of ProKidney in a research note on Monday, September 30th. They issued a “neutral” rating on the stock. Finally, Guggenheim began coverage on shares of ProKidney in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.00 price target for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.50.

ProKidney Price Performance

The stock has a market capitalization of $495.83 million, a PE ratio of -3.09 and a beta of 1.27. The company has a 50 day moving average price of $1.82 and a 200-day moving average price of $2.09.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). As a group, equities analysts anticipate that ProKidney Corp. will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On ProKidney

A number of institutional investors have recently bought and sold shares of PROK. XTX Topco Ltd bought a new stake in ProKidney during the 3rd quarter valued at approximately $41,000. Intech Investment Management LLC bought a new stake in shares of ProKidney during the third quarter valued at approximately $46,000. AQR Capital Management LLC bought a new stake in shares of ProKidney during the second quarter valued at approximately $50,000. The Manufacturers Life Insurance Company purchased a new stake in ProKidney in the second quarter worth $60,000. Finally, Castleview Partners LLC bought a new position in ProKidney in the third quarter worth $63,000. 51.59% of the stock is owned by institutional investors.

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.