ProKidney (NASDAQ:PROK) Trading Up 5.9% – Time to Buy?

ProKidney Corp. (NASDAQ:PROK) shares traded up 5.9% during mid-day trading on Monday . The stock traded as high as $1.91 and last traded at $1.90. 30,508 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 685,912 shares. The stock had previously closed at $1.80.

Analysts Set New Price Targets

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

ProKidney Trading Up 0.5 %

The business’s 50-day moving average is $1.85 and its two-hundred day moving average is $2.18. The stock has a market capitalization of $539.57 million, a PE ratio of -3.36 and a beta of 1.27.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). On average, analysts predict that ProKidney Corp. will post -0.57 EPS for the current year.

Insider Buying and Selling

In related news, insider Darin J. Weber sold 16,412 shares of the company’s stock in a transaction 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 represents a 13.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 41.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ProKidney

Institutional investors have recently modified their holdings of the stock. Barclays PLC increased its stake in ProKidney by 575.7% during the third quarter. Barclays PLC now owns 146,321 shares of the company’s stock valued at $281,000 after purchasing an additional 124,667 shares during the last quarter. Geode Capital Management LLC lifted its position in ProKidney by 102.0% in the third quarter. Geode Capital Management LLC now owns 2,203,934 shares of the company’s stock worth $4,232,000 after purchasing an additional 1,112,933 shares during the period. XTX Topco Ltd bought a new position in ProKidney during the third quarter valued at about $41,000. State Street Corp boosted its position in shares of ProKidney by 16.2% during the 3rd quarter. State Street Corp now owns 1,428,318 shares of the company’s stock valued at $2,742,000 after purchasing an additional 198,836 shares in the last quarter. Finally, Suvretta Capital Management LLC grew its position in ProKidney by 32.1% in the third quarter. Suvretta Capital Management LLC now owns 12,341,266 shares of the company’s stock worth $23,695,000 after buying an additional 3,000,000 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

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.