ProKidney (NASDAQ:PROK) Sees Unusually-High Trading Volume

ProKidney Corp. (NASDAQ:PROK) shares saw an uptick in trading volume on Thursday . 477,394 shares changed hands during trading, a decline of 32% from the previous session’s volume of 697,400 shares.The stock last traded at $2.41 and had previously closed at $2.39.

Analysts Set New Price Targets

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

ProKidney Trading Up 2.9 %

The business’s 50-day simple moving average is $2.28 and its 200 day simple moving average is $2.37. The company has a market capitalization of $564.19 million, a P/E ratio of -4.32 and a beta of 1.10.

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

Insiders Place Their Bets

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the company’s 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 sale, the insider now directly owns 103,480 shares in the company, valued at $258,700. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 41.49% of the stock is currently owned by insiders.

Institutional Investors Weigh In On ProKidney

Institutional investors have recently added to or reduced their stakes in the company. AQR Capital Management LLC acquired a new stake in ProKidney in the second quarter worth approximately $50,000. The Manufacturers Life Insurance Company bought a new position in shares of ProKidney in the second quarter valued at $60,000. Susquehanna Fundamental Investments LLC bought a new position in shares of ProKidney in the second quarter valued at $106,000. Marshall Wace LLP bought a new position in shares of ProKidney in the second quarter valued at $124,000. Finally, Rhumbline Advisers increased its holdings in shares of 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 buying an additional 6,181 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.