ProKidney Corp. (NASDAQ:PROK) Insider Darin J. Weber Sells 16,412 Shares

ProKidney Corp. (NASDAQ:PROK) insider Darin J. Weber sold 16,412 shares of the stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $2.50, for a total value of $41,030.00. Following the completion of the transaction, the insider now directly owns 103,480 shares of the company’s stock, valued at $258,700. The sale was disclosed in a filing with the SEC, which is available at this link.

ProKidney Trading Up 2.9 %

PROK stock opened at $2.46 on Friday. The stock has a 50-day moving average price of $2.28 and a two-hundred day moving average price of $2.37. ProKidney Corp. has a 1 year low of $1.12 and a 1 year high of $4.98. The stock has a market cap of $564.19 million, a PE ratio of -4.32 and a beta of 1.10.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings data on Friday, August 9th. The company reported ($0.16) EPS for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. On average, analysts forecast that ProKidney Corp. will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProKidney

Hedge funds have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of ProKidney by 44.6% during the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock worth $441,000 after purchasing an additional 55,266 shares during the period. Rhumbline Advisers grew its holdings in ProKidney by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after buying an additional 6,181 shares in the last quarter. Marshall Wace LLP bought a new position in ProKidney during the 2nd quarter worth $124,000. Susquehanna Fundamental Investments LLC bought a new position in ProKidney in the 2nd quarter valued at about $106,000. Finally, The Manufacturers Life Insurance Company acquired a new position in shares of ProKidney in the 2nd quarter valued at approximately $60,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PROK. Jefferies Financial Group lowered their price target on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research report on Monday, June 10th. Guggenheim began coverage on shares of ProKidney in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price objective for the company. Finally, Bank of America lowered their price objective on ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th.

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.