ProKidney (NASDAQ:PROK) Trading Down 5.9%

Shares of ProKidney Corp. (NASDAQ:PROK - Get Free Report) dropped 5.9% on Tuesday . The stock traded as low as $2.25 and last traded at $2.25. Approximately 57,678 shares were traded during mid-day trading, a decline of 92% from the average daily volume of 703,576 shares. The stock had previously closed at $2.39.

Analyst Upgrades and Downgrades

PROK has been the subject of several analyst reports. Bank of America upped their target price on shares of ProKidney from $3.00 to $4.00 and gave the company a "neutral" rating in a research note on Wednesday, May 29th. Jefferies Financial Group reduced their price objective 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 Trading Down 7.5 %

The stock has a market capitalization of $506.85 million, a P/E ratio of -3.95 and a beta of 1.10. The stock's 50 day simple moving average is $2.30 and its 200 day simple moving average is $2.27.

ProKidney (NASDAQ:PROK - Get Free Report) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.16) EPS for the quarter, beating analysts' consensus estimates of ($0.17) by $0.01. On average, sell-side analysts expect that ProKidney Corp. will post -0.56 EPS for the current fiscal year.

Insider Transactions at ProKidney

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

Several large investors have recently bought and sold shares of the stock. Rhumbline Advisers increased its stake in ProKidney by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company's stock valued at $187,000 after buying an additional 6,181 shares during the period. Zullo Investment Group Inc. acquired a new position in ProKidney during the 1st quarter valued at about $32,000. AQR Capital Management LLC acquired a new position in ProKidney during the 2nd quarter valued at about $50,000. The Manufacturers Life Insurance Company bought a new position in shares of ProKidney during the 2nd quarter valued at about $60,000. Finally, Susquehanna Fundamental Investments LLC bought a new position in shares of ProKidney during the 2nd quarter valued at about $106,000. Institutional investors and hedge funds 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.

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