ProKidney (NASDAQ:PROK) Shares Down 5.4% – What’s Next?

ProKidney Corp. (NASDAQ:PROK) shares dropped 5.4% during trading on Thursday . The company traded as low as $1.90 and last traded at $1.94. Approximately 97,639 shares traded hands during trading, a decline of 86% from the average daily volume of 688,337 shares. The stock had previously closed at $2.05.

Analysts Set New Price Targets

A number of analysts recently commented on the company. JPMorgan Chase & Co. assumed coverage on ProKidney in a report on Monday, September 30th. They set a “neutral” rating on the stock. Bank of America reduced their target price on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, Guggenheim started coverage on ProKidney in a report on Tuesday, September 10th. They set a “buy” rating and a $6.00 price objective for the company. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $4.50.

ProKidney Trading Down 4.5 %

The company’s fifty day moving average is $1.84 and its 200 day moving average is $2.22. The company has a market capitalization of $523.53 million, a P/E ratio of -3.26 and a beta of 1.27.

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). Equities research analysts predict that ProKidney Corp. will post -0.57 EPS for the current year.

Insider Buying and Selling at ProKidney

In related 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 value of $41,030.00. Following the sale, the insider now directly owns 103,480 shares of the company’s stock, valued at $258,700. This trade represents a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 41.49% of the company’s stock.

Institutional Trading of ProKidney

A number of hedge funds have recently bought and sold shares of PROK. AQR Capital Management LLC purchased a new position in ProKidney in the 2nd quarter worth $50,000. XTX Topco Ltd bought a new position in shares of ProKidney during the third quarter valued at about $41,000. Intech Investment Management LLC purchased a new position in shares of ProKidney in the third quarter worth about $46,000. The Manufacturers Life Insurance Company bought a new stake in shares of ProKidney in the 2nd quarter valued at about $60,000. Finally, Castleview Partners LLC purchased a new stake in ProKidney during the 3rd quarter valued at about $63,000. Institutional investors own 51.59% of the company’s stock.

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.