The Manufacturers Life Insurance Company Acquires Shares of 24,566 ProKidney Corp. (NASDAQ:PROK)

The Manufacturers Life Insurance Company bought a new position in ProKidney Corp. (NASDAQ:PROK) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,566 shares of the company’s stock, valued at approximately $60,000.

Other institutional investors have also made changes to their positions in the company. AQR Capital Management LLC purchased a new stake in shares of ProKidney in the 2nd quarter valued at approximately $50,000. Marshall Wace LLP purchased a new stake in shares of ProKidney in the second quarter valued at $124,000. Rhumbline Advisers boosted its position in shares of ProKidney by 8.8% in the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock worth $187,000 after buying an additional 6,181 shares during the period. Finally, Bank of New York Mellon Corp grew its holdings 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 valued at $441,000 after buying an additional 55,266 shares in the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

ProKidney Price Performance

PROK opened at $1.87 on Tuesday. The company has a market capitalization of $428.87 million, a PE ratio of -3.28 and a beta of 1.08. The business has a 50-day moving average of $2.14 and a 200-day moving average of $2.43. ProKidney Corp. has a fifty-two week low of $1.12 and a fifty-two week high of $4.44.

ProKidney (NASDAQ:PROK) last posted its earnings results on Friday, August 9th. The company reported ($0.16) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. On average, equities research analysts expect that ProKidney Corp. will post -0.52 earnings per share for the current fiscal year.

Analysts Set New Price Targets

PROK has been the subject of several research analyst reports. JPMorgan Chase & Co. initiated coverage on ProKidney in a research note on Monday, September 30th. They issued a “neutral” rating for the company. 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 target for the company. Finally, Bank of America lowered their price objective 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 equities 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, ProKidney has a consensus rating of “Hold” and a consensus target price of $4.50.

Insider Activity at ProKidney

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the stock in a transaction on 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 of the company’s stock, valued at $258,700. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 41.49% of the stock is owned by company insiders.

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.