ProKidney (NASDAQ:PROK) Shares Gap Down – What’s Next?

ProKidney Corp. (NASDAQ:PROK) shares gapped down before the market opened on Tuesday . The stock had previously closed at $1.83, but opened at $1.77. ProKidney shares last traded at $1.77, with a volume of 25,112 shares changing hands.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. JPMorgan Chase & Co. assumed coverage on shares of ProKidney in a research report on Monday, September 30th. They set a “neutral” rating for the company. Bank of America dropped their target price on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, Guggenheim assumed coverage on shares of ProKidney in a report on Tuesday, September 10th. They issued a “buy” rating and a $6.00 target price on the stock. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $4.50.

ProKidney Stock Performance

The stock has a market capitalization of $529.36 million, a P/E ratio of -3.33 and a beta of 1.11. The company’s 50-day moving average price is $1.86 and its 200 day moving average price is $2.36.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). Analysts predict that ProKidney Corp. will post -0.6 earnings per share for the current year.

Insider Transactions at ProKidney

In related news, insider Darin J. Weber sold 16,412 shares of ProKidney stock in a transaction dated 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 transaction, the insider now directly owns 103,480 shares of the company’s stock, valued at approximately $258,700. The trade was a 13.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 41.49% of the company’s stock.

Institutional Investors Weigh In On ProKidney

Large investors have recently added to or reduced their stakes in the stock. XTX Topco Ltd purchased a new stake in ProKidney in the 3rd quarter valued at about $41,000. Intech Investment Management LLC purchased a new stake in ProKidney in the 3rd quarter valued at about $46,000. AQR Capital Management LLC purchased a new stake in ProKidney in the 2nd quarter valued at about $50,000. The Manufacturers Life Insurance Company purchased a new stake in ProKidney in the 2nd quarter valued at about $60,000. Finally, Castleview Partners LLC purchased a new stake in ProKidney in the 3rd quarter valued at about $63,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.