ProKidney (NASDAQ:PROK) Shares Up 7%

ProKidney Corp. (NASDAQ:PROK) shares shot up 7% during trading on Thursday . The company traded as high as $2.43 and last traded at $2.43. 68,660 shares were traded during trading, a decline of 91% from the average session volume of 769,277 shares. The stock had previously closed at $2.27.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on PROK shares. Bank of America boosted their price target on ProKidney from $3.00 to $4.00 and gave the company a “neutral” rating in a report on Wednesday, May 29th. Jefferies Financial Group lowered their target price on ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a report on Monday, June 10th. Finally, Morgan Stanley began coverage on ProKidney in a report on Thursday, March 7th. They set an “equal weight” rating and a $3.00 target price for the company.

ProKidney Trading Up 1.7 %

The business has a 50-day moving average price of $2.96 and a 200-day moving average price of $2.07.

ProKidney (NASDAQ:PROK) last released its earnings results on Friday, May 10th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.09. Equities research analysts anticipate that ProKidney Corp. will post -0.56 EPS for the current year.

Insider Activity at ProKidney

In related news, insider Darin J. Weber sold 17,238 shares of the company’s stock in a transaction on Monday, May 20th. The stock was sold at an average price of $4.08, for a total value of $70,331.04. Following the transaction, the insider now directly owns 137,956 shares of the company’s stock, valued at approximately $562,860.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, insider Control Empresarial De Capital bought 8,264,462 shares of the stock in a transaction dated Tuesday, June 11th. The shares were acquired at an average cost of $2.42 per share, with a total value of $19,999,998.04. Following the purchase, the insider now directly owns 71,560,107 shares in the company, valued at approximately $173,175,458.94. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Darin J. Weber sold 17,238 shares of the stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $4.08, for a total transaction of $70,331.04. Following the sale, the insider now directly owns 137,956 shares in the company, valued at $562,860.48. The disclosure for this sale can be found here. Insiders have sold a total of 136,117 shares of company stock valued at $302,723 in the last ninety days. Company insiders own 41.49% of the company’s stock.

Institutional Investors Weigh In On ProKidney

Several hedge funds have recently modified their holdings of the company. Federated Hermes Inc. lifted its stake in ProKidney by 10,984.7% in the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock valued at $202,000 after buying an additional 112,264 shares in the last quarter. SG Americas Securities LLC lifted its stake in ProKidney by 174.2% in the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock valued at $83,000 after buying an additional 29,749 shares in the last quarter. Finally, Zullo Investment Group Inc. purchased a new position in ProKidney in the 1st quarter valued at about $32,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.