ProKidney (NASDAQ:PROK) Stock Price Up 5.4% - Still a Buy?

ProKidney Corp. (NASDAQ:PROK - Get Free Report) was up 5.4% on Friday . The stock traded as high as $2.00 and last traded at $1.95. Approximately 31,783 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 698,027 shares. The stock had previously closed at $1.85.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Guggenheim assumed coverage on ProKidney in a research report on Tuesday, September 10th. They set a "buy" rating and a $6.00 target price on the stock. Bank of America lowered their price objective on ProKidney from $4.00 to $3.00 and set a "neutral" rating on the stock in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. started coverage on ProKidney in a research report on Monday, September 30th. They issued a "neutral" rating for the company. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, ProKidney presently has a consensus rating of "Hold" and a consensus price target of $4.50.

ProKidney Stock Up 8.1 %

The company has a market capitalization of $583.32 million, a price-to-earnings ratio of -3.64 and a beta of 1.11. The business has a fifty day simple moving average of $1.82 and a two-hundred day simple moving average of $2.33.

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 the consensus estimate of ($0.14). As a group, equities analysts predict that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Insider Transactions at ProKidney

In related news, insider Darin J. Weber sold 16,412 shares of the firm's stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $2.50, for a total transaction of $41,030.00. Following the completion of the sale, the insider now directly owns 103,480 shares of the company's stock, valued at $258,700. This trade represents a 13.69 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 41.49% of the stock is owned by insiders.

Institutional Trading of ProKidney

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC acquired a new position in ProKidney during the 2nd quarter worth about $50,000. XTX Topco Ltd acquired a new position in shares of ProKidney during the third quarter worth approximately $41,000. Intech Investment Management LLC acquired a new position in shares of ProKidney during the third quarter worth approximately $46,000. The Manufacturers Life Insurance Company bought a new stake in shares of ProKidney during the second quarter valued at approximately $60,000. Finally, Castleview Partners LLC acquired a new stake in shares of ProKidney in the third quarter valued at approximately $63,000. 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.