ProKidney (NASDAQ:PROK) PT Lowered to $3.00 at Bank of America

ProKidney (NASDAQ:PROK - Free Report) had its price target cut by Bank of America from $4.00 to $3.00 in a research report report published on Wednesday morning, Benzinga reports. They currently have a neutral rating on the stock.

Separately, Jefferies Financial Group reduced their price target on shares of ProKidney from $15.00 to $6.00 and set a buy rating on the stock in a research report on Monday, June 10th.

ProKidney Price Performance

NASDAQ:PROK traded down $0.22 during mid-day trading on Wednesday, reaching $2.18. The stock had a trading volume of 335,574 shares, compared to its average volume of 696,297. The company has a market capitalization of $499.97 million, a price-to-earnings ratio of -3.82 and a beta of 1.10. ProKidney has a 1-year low of $1.12 and a 1-year high of $8.84. The stock's 50 day simple moving average is $2.28 and its two-hundred day simple moving average is $2.31.

ProKidney (NASDAQ:PROK - Get Free Report) last issued its earnings results on Friday, August 9th. The company reported ($0.16) EPS for the quarter, topping the consensus estimate of ($0.17) by $0.01. Sell-side analysts anticipate that ProKidney will post -0.51 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Control Empresarial De Capital acquired 8,264,462 shares of the stock in a transaction that occurred on Tuesday, June 11th. The stock was purchased at an average cost of $2.42 per share, for a total transaction of $19,999,998.04. Following the purchase, the insider now directly owns 71,560,107 shares in the company, valued at $173,175,458.94. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other ProKidney news, Director Pablo G. Legorreta acquired 22,617,909 shares of ProKidney stock in a transaction dated Thursday, June 13th. The stock was acquired at an average cost of $2.42 per share, for a total transaction of $54,735,339.78. Following the completion of the transaction, the director now owns 22,617,909 shares in the company, valued at approximately $54,735,339.78. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Control Empresarial De Capital acquired 8,264,462 shares of the firm's stock in a transaction that occurred on Tuesday, June 11th. The stock was acquired at an average cost of $2.42 per share, with a total value of $19,999,998.04. Following the completion of the acquisition, the insider now directly owns 71,560,107 shares in the company, valued at $173,175,458.94. The disclosure for this purchase can be found here. Company insiders own 41.49% of the company's stock.

Institutional Trading of ProKidney

Several hedge funds have recently added to or reduced their stakes in PROK. The Manufacturers Life Insurance Company acquired a new position in shares of ProKidney during the second quarter valued at $60,000. AQR Capital Management LLC bought a new stake in ProKidney in the second quarter worth about $50,000. Marshall Wace LLP acquired a new stake in ProKidney in the 2nd quarter valued at about $124,000. Susquehanna Fundamental Investments LLC bought a new position in shares of ProKidney during the 2nd quarter valued at about $106,000. Finally, Rhumbline Advisers grew its stake in shares of ProKidney by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company's stock worth $187,000 after purchasing an additional 6,181 shares during the last quarter. Institutional investors 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.