Insider Selling: ProKidney Corp. (NASDAQ:PROK) Insider Sells $41,030.00 in Stock

ProKidney Corp. (NASDAQ:PROK) insider Darin J. Weber sold 16,412 shares of the business’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $2.50, for a total value of $41,030.00. Following the sale, the insider now directly owns 103,480 shares in the company, valued at $258,700. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

ProKidney Trading Up 2.9 %

NASDAQ:PROK opened at $2.46 on Monday. The firm has a market capitalization of $564.19 million, a price-to-earnings ratio of -4.32 and a beta of 1.10. ProKidney Corp. has a 1-year low of $1.12 and a 1-year high of $4.98. The business’s fifty day moving average price is $2.28 and its 200 day moving average price is $2.38.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.16) earnings per share for the quarter, beating the consensus estimate of ($0.17) by $0.01. Equities analysts forecast that ProKidney Corp. will post -0.44 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in ProKidney in the 2nd quarter worth about $50,000. The Manufacturers Life Insurance Company acquired a new position in ProKidney in the 2nd quarter worth about $60,000. Susquehanna Fundamental Investments LLC acquired a new position in ProKidney in the 2nd quarter worth about $106,000. Marshall Wace LLP acquired a new position in ProKidney in the 2nd quarter worth about $124,000. Finally, Rhumbline Advisers increased its position in ProKidney by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock worth $187,000 after purchasing an additional 6,181 shares during the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

PROK has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on ProKidney in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.00 target price on the stock. Jefferies Financial Group cut their target price on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Finally, Bank of America cut their target price on ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th.

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.