ProKidney Corp. (NASDAQ:PROK) Shares Sold by Vanguard Group Inc.

Vanguard Group Inc. lessened its position in shares of ProKidney Corp. (NASDAQ:PROK - Free Report) by 37.5% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,813,079 shares of the company's stock after selling 1,085,965 shares during the period. Vanguard Group Inc. owned approximately 0.79% of ProKidney worth $2,973,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Federated Hermes Inc. lifted its stake in ProKidney by 10,984.7% during the fourth quarter. Federated Hermes Inc. now owns 113,286 shares of the company's stock worth $202,000 after purchasing an additional 112,264 shares during the last quarter. SG Americas Securities LLC lifted its stake in ProKidney by 174.2% during the fourth quarter. SG Americas Securities LLC now owns 46,829 shares of the company's stock worth $83,000 after purchasing an additional 29,749 shares during the last quarter. Finally, Zullo Investment Group Inc. bought a new stake in ProKidney during the first quarter worth $32,000. 51.59% of the stock is currently owned by institutional investors.

ProKidney Price Performance

Shares of NASDAQ:PROK remained flat at $2.40 during trading on Monday. 251,685 shares of the stock traded hands, compared to its average volume of 721,012. The stock has a fifty day simple moving average of $2.36 and a 200 day simple moving average of $2.22. The firm has a market cap of $550.43 million, a P/E ratio of -4.21 and a beta of 1.10. ProKidney Corp. has a 52 week low of $1.12 and a 52 week high of $9.95.

ProKidney (NASDAQ:PROK - Get Free Report) last announced its quarterly earnings results on Friday, August 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.17) by $0.01. On average, equities research analysts expect that ProKidney Corp. will post -0.56 EPS for the current year.

Insider Activity at ProKidney

In related news, Director Pablo G. Legorreta acquired 22,617,909 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director now directly owns 22,617,909 shares of the company's stock, valued at approximately $54,735,339.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Pablo G. Legorreta acquired 22,617,909 shares of the firm's stock in a transaction that occurred on 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 acquisition, the director now directly owns 22,617,909 shares of the company's stock, valued at approximately $54,735,339.78. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 bought at an average price 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 of the company's stock, valued at $173,175,458.94. The disclosure for this purchase can be found here. 41.49% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on PROK. 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 upped their price target on shares of ProKidney from $3.00 to $4.00 and gave the stock a "neutral" rating in a report on Wednesday, May 29th.

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.