ProKidney Corp. (NASDAQ:PROK) Shares Bought by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company lifted its position in shares of ProKidney Corp. (NASDAQ:PROK) by 54.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 37,981 shares of the company’s stock after buying an additional 13,415 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in ProKidney were worth $73,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in shares of ProKidney by 44.6% in the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock worth $441,000 after acquiring an additional 55,266 shares during the last quarter. Rhumbline Advisers raised its stake 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 purchasing an additional 6,181 shares during the last quarter. Marshall Wace LLP acquired a new stake in shares of ProKidney during the 2nd quarter worth about $124,000. AQR Capital Management LLC purchased a new stake in shares of ProKidney during the second quarter worth about $50,000. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of ProKidney in the second quarter valued at approximately $106,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts have commented on PROK shares. Bank of America lowered their target price on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a research note on Wednesday, September 4th. JPMorgan Chase & Co. started coverage on ProKidney in a research report on Monday, September 30th. They issued a “neutral” rating for the company. Finally, Guggenheim initiated coverage on ProKidney in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $4.50.

Insider Transactions at ProKidney

In related news, insider Darin J. Weber sold 16,412 shares of ProKidney 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 owns 103,480 shares in the company, valued at approximately $258,700. The trade was a 13.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 41.49% of the company’s stock.

ProKidney Stock Up 0.5 %

Shares of PROK opened at $1.85 on Wednesday. ProKidney Corp. has a fifty-two week low of $1.18 and a fifty-two week high of $4.44. The company’s fifty day moving average is $1.85 and its two-hundred day moving average is $2.18. The firm has a market cap of $539.57 million, a PE ratio of -3.33 and a beta of 1.27.

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

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.