Bank of America Increases ProKidney (NASDAQ:PROK) Price Target to $4.00

ProKidney (NASDAQ:PROKGet Free Report) had its price objective increased by research analysts at Bank of America from $3.00 to $4.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Bank of America‘s price objective suggests a potential downside of 4.76% from the company’s current price.

Separately, Morgan Stanley initiated coverage on ProKidney in a research report on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 target price on the stock.

Read Our Latest Report on ProKidney

ProKidney Price Performance

Shares of NASDAQ PROK opened at $4.20 on Wednesday. The stock has a market capitalization of $963.23 million, a P/E ratio of -7.37 and a beta of 0.78. ProKidney has a 1-year low of $1.12 and a 1-year high of $13.51. The business’s 50 day moving average is $2.45 and its two-hundred day moving average is $1.88.

ProKidney (NASDAQ:PROKGet Free Report) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.09) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. As a group, equities research analysts anticipate that ProKidney will post -0.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other ProKidney news, insider Darin J. Weber sold 17,238 shares of the company’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $70,331.04. Following the sale, the insider now owns 137,956 shares in the company, valued at approximately $562,860.48. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other ProKidney news, insider Control Empresarial De Capital acquired 50,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were bought at an average cost of $1.50 per share, with a total value of $75,000.00. Following the transaction, the insider now owns 63,168,645 shares of the company’s stock, valued at approximately $94,752,967.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Darin J. Weber sold 17,238 shares of the firm’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $4.08, for a total transaction of $70,331.04. Following the completion of the sale, the insider now owns 137,956 shares of the company’s stock, valued at approximately $562,860.48. The disclosure for this sale can be found here. In the last 90 days, insiders have bought 127,000 shares of company stock valued at $183,700 and have sold 136,117 shares valued at $302,723. 41.49% of the stock is owned by corporate insiders.

Institutional Trading of ProKidney

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PROK. Zullo Investment Group Inc. purchased a new position in shares of ProKidney during the 1st quarter worth $32,000. Federated Hermes Inc. lifted its position in ProKidney by 10,984.7% during the fourth quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after buying an additional 112,264 shares during the period. SG Americas Securities LLC boosted its stake in ProKidney by 174.2% in the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock worth $83,000 after buying an additional 29,749 shares during the last quarter. Finally, Jump Financial LLC purchased a new stake in ProKidney in the 3rd quarter valued at about $216,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

About ProKidney

(Get Free Report)

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.

Further Reading

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