Darin J. Weber Sells 16,412 Shares of ProKidney Corp. (NASDAQ:PROK) Stock

ProKidney Corp. (NASDAQ:PROK) insider Darin J. Weber sold 16,412 shares of the firm’s 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 completion of the transaction, the insider now directly owns 103,480 shares in the company, valued at $258,700. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

ProKidney Stock Up 2.9 %

PROK opened at $2.46 on Monday. The firm has a market capitalization of $564.19 million, a P/E ratio of -4.32 and a beta of 1.10. The stock’s 50 day moving average price is $2.28 and its two-hundred day moving average price is $2.38. ProKidney Corp. has a 12-month low of $1.12 and a 12-month high of $4.98.

ProKidney (NASDAQ:PROK) last released its earnings results on Friday, August 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. As a group, analysts anticipate that ProKidney Corp. will post -0.44 earnings per share 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. Bank of New York Mellon Corp grew its holdings in shares of ProKidney by 44.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock worth $441,000 after purchasing an additional 55,266 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of ProKidney during the 2nd quarter worth approximately $124,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProKidney during the 2nd quarter worth approximately $106,000. The Manufacturers Life Insurance Company acquired a new stake in shares of ProKidney during the 2nd quarter worth approximately $60,000. Finally, AQR Capital Management LLC acquired a new stake in shares of ProKidney during the 2nd quarter worth approximately $50,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

Analyst Ratings Changes

PROK has been the topic of a number of recent analyst reports. Guggenheim initiated coverage on ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price objective on the stock. Jefferies Financial Group cut their price objective on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Finally, Bank of America cut their price objective on ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th.

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.