ProKidney (NASDAQ:PROK) Trading 6.2% Higher - What's Next?

ProKidney Corp. (NASDAQ:PROK - Get Free Report)'s stock price traded up 6.2% during mid-day trading on Tuesday . The company traded as high as $1.81 and last traded at $1.80. 183,438 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 685,976 shares. The stock had previously closed at $1.69.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on PROK shares. JPMorgan Chase & Co. initiated coverage on ProKidney in a research report on Monday, September 30th. They set a "neutral" rating on the stock. Guggenheim began coverage on shares of ProKidney in a research report on Tuesday, September 10th. They set a "buy" rating and a $6.00 price objective for the company. Finally, Bank of America dropped their target price on shares of ProKidney from $4.00 to $3.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $4.50.

ProKidney Stock Up 5.3 %

The stock has a market cap of $519.16 million, a price-to-earnings ratio of -3.24 and a beta of 1.27. The stock has a 50 day simple moving average of $1.83 and a 200 day simple moving average of $2.12.

ProKidney (NASDAQ:PROK - Get Free Report) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) EPS for the quarter, meeting analysts' consensus estimates of ($0.14). Equities analysts expect that ProKidney Corp. will post -0.57 earnings per share for the current year.

Institutional Trading of ProKidney

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp lifted its holdings in shares of ProKidney by 44.6% in the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company's stock valued at $441,000 after purchasing an additional 55,266 shares in the last quarter. Rhumbline Advisers lifted 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 acquiring an additional 6,181 shares in the last quarter. Marshall Wace LLP bought a new position in ProKidney during the 2nd quarter valued at $124,000. AQR Capital Management LLC purchased a new position in ProKidney during the 2nd quarter worth $50,000. Finally, The Manufacturers Life Insurance Company bought a new stake in shares of ProKidney in the 2nd quarter worth $60,000. 51.59% of the stock is owned by institutional investors.

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.