ProKidney (NASDAQ:PROK) Shares Gap Down – Time to Sell?

ProKidney Corp. (NASDAQ:PROK)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $2.13, but opened at $1.98. ProKidney shares last traded at $1.94, with a volume of 19,295 shares traded.

Analysts Set New Price Targets

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

ProKidney Trading Down 5.0 %

The company’s 50-day simple moving average is $1.81 and its 200 day simple moving average is $2.29. The stock has a market cap of $557.07 million, a P/E ratio of -3.47 and a beta of 1.27.

ProKidney (NASDAQ:PROK) last posted its earnings results on Tuesday, November 12th. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14). Research analysts anticipate that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Darin J. Weber sold 16,412 shares of ProKidney 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 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 SEC, which can be accessed through this hyperlink. 41.49% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Rhumbline Advisers grew its stake in ProKidney by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after buying an additional 6,181 shares in the last quarter. The Manufacturers Life Insurance Company grew its position in shares of ProKidney by 54.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 37,981 shares of the company’s stock valued at $73,000 after purchasing an additional 13,415 shares in the last quarter. AQR Capital Management LLC purchased a new position in shares of ProKidney during the 2nd quarter valued at $50,000. XTX Topco Ltd purchased a new position in shares of ProKidney during the 3rd quarter valued at $41,000. Finally, Intech Investment Management LLC purchased a new position in shares of ProKidney during the 3rd quarter valued at $46,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

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.