ProKidney (NASDAQ:PROK) Trading 6% Higher

ProKidney Corp. (NASDAQ:PROK - Get Free Report)'s stock price was up 6% during trading on Thursday . The stock traded as high as $2.31 and last traded at $2.31. Approximately 122,205 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 692,951 shares. The stock had previously closed at $2.18.

Wall Street Analyst Weigh In

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

ProKidney Price Performance

The firm has a market capitalization of $543.55 million, a PE ratio of -4.16 and a beta of 1.10. The company has a 50-day moving average price of $2.28 and a 200 day moving average price of $2.31.

ProKidney (NASDAQ:PROK - Get Free Report) last announced its quarterly earnings data 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, research analysts anticipate that ProKidney Corp. will post -0.51 earnings per share for the current year.

Insider Transactions at ProKidney

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

Hedge Funds Weigh In On ProKidney

Large investors have recently bought and sold shares of the business. Zullo Investment Group Inc. purchased a new position in ProKidney during the 1st quarter worth $32,000. AQR Capital Management LLC bought a new position in shares of ProKidney during the 2nd quarter worth $50,000. The Manufacturers Life Insurance Company bought a new stake in shares of ProKidney in the second quarter valued at about $60,000. Susquehanna Fundamental Investments LLC purchased a new stake in ProKidney in the second quarter worth about $106,000. Finally, Marshall Wace LLP bought a new position in ProKidney during the 2nd quarter worth about $124,000. Hedge funds and other 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.