ProKidney (NASDAQ:PROK) Shares Gap Down Following Insider Selling

ProKidney Corp. (NASDAQ:PROK) gapped down before the market opened on Thursday following insider selling activity. The stock had previously closed at $2.84, but opened at $2.77. ProKidney shares last traded at $2.25, with a volume of 344,684 shares traded.

Specifically, SVP Darin J. Weber sold 84,103 shares of ProKidney 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 transaction, the senior vice president now directly owns 189,670 shares of the company’s stock, valued at approximately $328,129.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other ProKidney news, SVP Darin J. Weber sold 84,103 shares of ProKidney 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 transaction, the senior vice president now directly owns 189,670 shares of the company’s stock, valued at approximately $328,129.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Darin J. Weber sold 17,238 shares of ProKidney stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $2.50, for a total value of $43,095.00. Following the transaction, the senior vice president now directly owns 172,432 shares in the company, valued at $431,080. The disclosure for this sale can be found here. In the last three months, insiders have sold 101,641 shares of company stock valued at $189,100. 44.99% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PROK has been the subject of several research analyst reports. Bank of America lowered ProKidney from a “buy” rating to a “neutral” rating in a research report on Tuesday, January 2nd. Morgan Stanley initiated coverage on ProKidney in a research report on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 price objective for the company.

ProKidney Trading Down 15.0 %

The firm has a market capitalization of $467.85 million, a P/E ratio of -3.58 and a beta of 1.08. The business has a 50-day moving average of $1.60 and a 200 day moving average of $1.79.

ProKidney (NASDAQ:PROK) last issued its earnings results on Thursday, March 21st. The company reported ($0.09) EPS for the quarter, beating analysts’ consensus estimates of ($0.19) by $0.10. As a group, research analysts forecast that ProKidney Corp. will post -0.65 EPS for the current year.

Institutional Trading of ProKidney

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in PROK. Lazard Asset Management LLC bought a new stake in ProKidney during the 2nd quarter worth approximately $31,000. Tower Research Capital LLC TRC increased its holdings in ProKidney by 98.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,456 shares of the company’s stock worth $50,000 after purchasing an additional 2,211 shares in the last quarter. Legal & General Group Plc bought a new stake in ProKidney during the 4th quarter worth approximately $57,000. Ameritas Investment Partners Inc. bought a new stake in ProKidney during the 2nd quarter worth approximately $57,000. Finally, UBS Group AG increased its holdings in ProKidney by 97.5% during the 1st quarter. UBS Group AG now owns 5,209 shares of the company’s stock worth $59,000 after purchasing an additional 2,571 shares in the last quarter. 51.59% of the stock is owned by institutional investors.

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.