ProKidney (NASDAQ:PROK) Trading 8.5% Higher – What’s Next?

Shares of ProKidney Corp. (NASDAQ:PROK) rose 8.5% during mid-day trading on Thursday . The company traded as high as $1.80 and last traded at $1.79. Approximately 106,581 shares traded hands during trading, a decline of 85% from the average daily volume of 704,867 shares. The stock had previously closed at $1.65.

Analyst Ratings Changes

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

ProKidney Price Performance

The company’s 50-day moving average is $1.89 and its two-hundred day moving average is $2.37.

ProKidney (NASDAQ:PROK) last announced 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). On average, equities analysts expect that ProKidney Corp. will post -0.54 earnings per share for the current year.

Insider Buying and Selling at ProKidney

In other news, insider Darin J. Weber sold 16,412 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total transaction of $41,030.00. Following the completion of the sale, the insider now owns 103,480 shares in the company, valued at $258,700. This trade represents a 13.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 41.49% of the company’s stock.

Institutional Investors Weigh In On ProKidney

Several large investors have recently modified their holdings of PROK. Suvretta Capital Management LLC increased its stake in shares of ProKidney by 32.1% during the 3rd quarter. Suvretta Capital Management LLC now owns 12,341,266 shares of the company’s stock worth $23,695,000 after purchasing an additional 3,000,000 shares during the last quarter. Geode Capital Management LLC grew its stake in ProKidney by 102.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,203,934 shares of the company’s stock valued at $4,232,000 after buying an additional 1,112,933 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in ProKidney by 150.6% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 749,718 shares of the company’s stock valued at $1,439,000 after buying an additional 450,548 shares in the last quarter. State Street Corp grew its stake in ProKidney by 16.2% in the 3rd quarter. State Street Corp now owns 1,428,318 shares of the company’s stock valued at $2,742,000 after buying an additional 198,836 shares in the last quarter. Finally, Barclays PLC grew its stake in ProKidney by 575.7% in the 3rd quarter. Barclays PLC now owns 146,321 shares of the company’s stock valued at $281,000 after buying an additional 124,667 shares in the last quarter. Hedge funds and other 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.