Geode Capital Management LLC Grows Stock Position in ProKidney Corp. (NASDAQ:PROK)

Geode Capital Management LLC boosted its stake in shares of ProKidney Corp. (NASDAQ:PROK) by 102.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,203,934 shares of the company’s stock after purchasing an additional 1,112,933 shares during the quarter. Geode Capital Management LLC owned approximately 0.76% of ProKidney worth $4,232,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. AQR Capital Management LLC acquired a new position in shares of ProKidney during the second quarter worth about $50,000. XTX Topco Ltd purchased a new position in ProKidney in the third quarter worth approximately $41,000. Intech Investment Management LLC acquired a new position in ProKidney during the 3rd quarter worth approximately $46,000. The Manufacturers Life Insurance Company purchased a new stake in shares of ProKidney in the 2nd quarter valued at approximately $60,000. Finally, Castleview Partners LLC acquired a new stake in shares of ProKidney in the 3rd quarter valued at $63,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

ProKidney Price Performance

NASDAQ PROK opened at $1.86 on Monday. The firm’s fifty day moving average price is $1.82 and its 200 day moving average price is $2.05. ProKidney Corp. has a 12 month low of $1.18 and a 12 month high of $4.44. The company has a market capitalization of $542.49 million, a price-to-earnings ratio of -3.38 and a beta of 1.32.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). As a group, sell-side analysts forecast that ProKidney Corp. will post -0.57 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. assumed coverage on shares of ProKidney in a research note on Monday, September 30th. They set a “neutral” rating for the company. Guggenheim started coverage on ProKidney in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.00 price objective for the company. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat, ProKidney currently has an average rating of “Hold” and an average price target of $4.50.

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.