ProKidney (NASDAQ:PROK) Stock Price Down 6.7%

Shares of ProKidney Corp. (NASDAQ:PROK) were down 6.7% during trading on Friday . The stock traded as low as $2.23 and last traded at $2.23. Approximately 167,106 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 709,264 shares. The stock had previously closed at $2.39.

Analyst Ratings Changes

Several analysts recently commented on PROK shares. Bank of America decreased their price target on ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Jefferies Financial Group decreased their price target on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a research note on Monday, June 10th. Finally, Guggenheim started coverage on ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price target on the stock.

ProKidney Price Performance

The company has a market cap of $555.01 million, a price-to-earnings ratio of -3.89 and a beta of 1.10. The business has a 50 day simple moving average of $2.28 and a 200 day simple moving average of $2.37.

ProKidney (NASDAQ:PROK) last released its earnings results on Friday, August 9th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. As a group, sell-side analysts anticipate that ProKidney Corp. will post -0.44 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ProKidney

Institutional investors and hedge funds have recently made changes to their positions in the company. The Manufacturers Life Insurance Company bought a new stake in shares of ProKidney during the second quarter worth $60,000. AQR Capital Management LLC bought a new stake in ProKidney in the second quarter valued at about $50,000. Marshall Wace LLP bought a new stake in ProKidney in the second quarter valued at about $124,000. Susquehanna Fundamental Investments LLC bought a new stake in ProKidney in the second quarter valued at about $106,000. Finally, Rhumbline Advisers increased its holdings in ProKidney by 8.8% in the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after purchasing an additional 6,181 shares during the last quarter. Institutional investors 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.