ProKidney (NASDAQ:PROK) Shares Gap Up to $2.72

ProKidney Corp. (NASDAQ:PROK)’s share price gapped up prior to trading on Wednesday . The stock had previously closed at $2.72, but opened at $2.79. ProKidney shares last traded at $2.91, with a volume of 953,997 shares.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. Morgan Stanley assumed coverage on shares of ProKidney in a research note on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 price objective on the stock. Bank of America downgraded shares of ProKidney from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 2nd.

ProKidney Stock Performance

The stock’s 50 day simple moving average is $1.53 and its two-hundred day simple moving average is $1.80.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Thursday, March 21st. The company reported ($0.09) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.10. Equities analysts forecast that ProKidney Corp. will post -0.65 EPS for the current fiscal year.

Institutional Trading of ProKidney

Institutional investors and hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC bought a new stake in shares of ProKidney in the 2nd quarter valued at about $31,000. Tower Research Capital LLC TRC increased its stake in ProKidney by 98.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,456 shares of the company’s stock worth $50,000 after purchasing an additional 2,211 shares in the last quarter. Ameritas Investment Partners Inc. bought a new stake in ProKidney during the 2nd quarter worth approximately $57,000. UBS Group AG increased its stake in ProKidney by 97.5% during the 1st quarter. UBS Group AG now owns 5,209 shares of the company’s stock worth $59,000 after purchasing an additional 2,571 shares in the last quarter. Finally, Royal Bank of Canada increased its stake in ProKidney by 530.3% during the 2nd quarter. Royal Bank of Canada now owns 6,965 shares of the company’s stock worth $78,000 after purchasing an additional 5,860 shares in the last quarter. 51.59% of the stock is owned by institutional investors.

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.