ProKidney (NASDAQ:PROK) Trading 8.4% Higher - What's Next?

ProKidney Corp. (NASDAQ:PROK - Get Free Report) shares were up 8.4% on Friday . The stock traded as high as $2.07 and last traded at $2.07. Approximately 160,880 shares were traded during mid-day trading, a decline of 77% from the average daily volume of 694,584 shares. The stock had previously closed at $1.91.

Analysts Set New Price Targets

PROK has been the subject of a number of recent research reports. JPMorgan Chase & Co. started coverage on ProKidney in a research note on Monday, September 30th. They issued a "neutral" rating for the company. Bank of America lowered their price target on ProKidney from $4.00 to $3.00 and set a "neutral" rating on the stock in a report on Wednesday, September 4th. Finally, Guggenheim began 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. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $4.50.

ProKidney Stock Up 8.4 %

The firm has a market cap of $603.74 million, a PE ratio of -3.76 and a beta of 1.27. The firm has a 50 day moving average of $1.81 and a 200 day moving average of $2.29.

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

Insider Buying and Selling

In other news, insider Darin J. Weber sold 16,412 shares of the business's stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $2.50, for a total transaction of $41,030.00. Following the transaction, the insider now directly owns 103,480 shares in the company, valued at $258,700. The trade was a 13.69 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 41.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On ProKidney

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

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