ProKidney (NASDAQ:PROK) Stock Price Down 2.7% – Here’s Why

ProKidney Corp. (NASDAQ:PROK) shares were down 2.7% during trading on Tuesday . The company traded as low as $1.37 and last traded at $1.46. Approximately 395,546 shares changed hands during trading, a decline of 5% from the average daily volume of 414,379 shares. The stock had previously closed at $1.50.

ProKidney Stock Down 2.7 %

The firm has a market cap of $425.83 million, a P/E ratio of -2.65 and a beta of 1.31. The stock’s 50-day simple moving average is $1.64 and its 200 day simple moving average is $1.88.

Hedge Funds Weigh In On ProKidney

Institutional investors and hedge funds have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. boosted its position in shares of ProKidney by 150.6% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 749,718 shares of the company’s stock worth $1,439,000 after purchasing an additional 450,548 shares in the last quarter. Geode Capital Management LLC boosted its stake in ProKidney by 102.0% during the 3rd quarter. Geode Capital Management LLC now owns 2,203,934 shares of the company’s stock valued at $4,232,000 after purchasing an additional 1,112,933 shares during the last quarter. Suvretta Capital Management LLC boosted its stake in ProKidney by 32.1% during the 3rd quarter. Suvretta Capital Management LLC now owns 12,341,266 shares of the company’s stock valued at $23,695,000 after purchasing an additional 3,000,000 shares during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in ProKidney during the 4th quarter valued at about $961,000. Finally, JPMorgan Chase & Co. boosted its stake in ProKidney by 65.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 46,830 shares of the company’s stock valued at $90,000 after purchasing an additional 18,472 shares during the last quarter. Institutional investors 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.