ProKidney (NASDAQ:PROK) Shares Up 8.3%

ProKidney Corp. (NASDAQ:PROK - Get Free Report) rose 8.3% during trading on Friday . The stock traded as high as $2.40 and last traded at $2.36. Approximately 114,841 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 709,208 shares. The stock had previously closed at $2.18.

Analyst Ratings Changes

PROK has been the subject of several analyst reports. Jefferies Financial Group cut their target price on ProKidney from $15.00 to $6.00 and set a "buy" rating for the company in a research note on Monday, June 10th. Bank of America raised their target price on ProKidney from $3.00 to $4.00 and gave the stock a "neutral" rating in a research note on Wednesday, May 29th.

ProKidney Stock Performance

The stock has a market cap of $548.13 million, a P/E ratio of -4.19 and a beta of 1.10. The stock has a 50-day moving average price of $2.31 and a 200-day moving average price of $2.25.

ProKidney (NASDAQ:PROK - Get Free Report) last issued its quarterly 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. Sell-side analysts forecast that ProKidney Corp. will post -0.56 earnings per share for the current fiscal year.

Insider Activity

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

Institutional Trading of ProKidney

Hedge funds have recently bought and sold shares of the company. Federated Hermes Inc. lifted its position in ProKidney by 10,984.7% in the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company's stock worth $202,000 after buying an additional 112,264 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in ProKidney in the 2nd quarter worth approximately $60,000. AQR Capital Management LLC purchased a new position in ProKidney in the 2nd quarter worth approximately $50,000. Marshall Wace LLP purchased a new position in ProKidney in the 2nd quarter worth approximately $124,000. Finally, Susquehanna Fundamental Investments LLC purchased a new position in ProKidney in the 2nd quarter worth approximately $106,000. Institutional investors own 51.59% of the company's stock.

About ProKidney

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.