ProKidney (NASDAQ:PROK) Shares Gap Up to $2.72

ProKidney Corp. (NASDAQ:PROK)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.72, but opened at $2.79. ProKidney shares last traded at $2.91, with a volume of 953,997 shares changing hands.

Analysts Set New Price Targets

Several research firms recently commented on PROK. Morgan Stanley began coverage on shares of ProKidney in a research note on Thursday, March 7th. They set an “equal weight” rating and a $3.00 target price for the company. Bank of America cut shares of ProKidney from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd.

ProKidney Stock Performance

The company has a market cap of $550.43 million, a price-to-earnings ratio of -4.21 and a beta of 1.08. The business’s 50 day moving average price is $1.59 and its 200-day moving average price is $1.81.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.10. On average, equities research analysts expect that ProKidney Corp. will post -0.65 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Darin J. Weber sold 84,103 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $1.73, for a total transaction of $145,498.19. Following the completion of the sale, the senior vice president now owns 189,670 shares in the company, valued at approximately $328,129.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Darin J. Weber sold 17,238 shares of the stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total transaction of $43,095.00. Following the completion of the sale, the senior vice president now owns 172,432 shares in the company, valued at approximately $431,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Darin J. Weber sold 84,103 shares of the stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $1.73, for a total transaction of $145,498.19. Following the sale, the senior vice president now owns 189,670 shares of the company’s stock, valued at approximately $328,129.10. The disclosure for this sale can be found here. Insiders sold 101,641 shares of company stock worth $189,100 in the last quarter. 44.99% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On ProKidney

A number of hedge funds have recently made changes to their positions in PROK. BlackRock Inc. acquired a new stake in shares of ProKidney during the 3rd quarter worth about $980,000. Vanguard Group Inc. bought a new stake in ProKidney during the 3rd quarter worth about $1,370,000. Bank of America Corp DE grew its holdings in ProKidney by 1,964,340.0% during the 4th quarter. Bank of America Corp DE now owns 196,444 shares of the company’s stock worth $1,348,000 after acquiring an additional 196,434 shares during the last quarter. Geode Capital Management LLC grew its holdings in ProKidney by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 132,808 shares of the company’s stock worth $911,000 after acquiring an additional 30,253 shares during the last quarter. Finally, Amundi bought a new stake in ProKidney during the 4th quarter worth about $182,000. 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.