ProKidney (NASDAQ:PROK) Sees Large Volume Increase

ProKidney Corp. (NASDAQ:PROK) saw an uptick in trading volume on Monday . 699,198 shares traded hands during trading, an increase of 8% from the previous session’s volume of 650,333 shares.The stock last traded at $2.37 and had previously closed at $2.04.

Analyst Ratings Changes

PROK has been the topic of several recent research reports. Bank of America cut ProKidney from a “buy” rating to a “neutral” rating in a report on Tuesday, January 2nd. Morgan Stanley began coverage on shares of ProKidney in a report on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 target price on the stock.

ProKidney Price Performance

The business has a 50-day moving average of $1.63 and a 200-day moving average of $1.74.

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

Insider Activity

In related news, SVP Darin J. Weber sold 16,438 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $2.51, for a total transaction of $41,259.38. Following the completion of the sale, the senior vice president now directly owns 155,194 shares of the company’s stock, valued at approximately $389,536.94. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, SVP Darin J. Weber sold 17,238 shares of the company’s stock in a transaction dated Tuesday, April 16th. The shares were sold at an average price of $2.50, for a total value of $43,095.00. Following the transaction, the senior vice president now directly owns 172,432 shares in the company, valued at $431,080. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Darin J. Weber sold 16,438 shares of ProKidney stock in a transaction dated Monday, April 22nd. The shares were sold at an average price of $2.51, for a total transaction of $41,259.38. Following the sale, the senior vice president now owns 155,194 shares of the company’s stock, valued at approximately $389,536.94. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 118,879 shares of company stock valued at $232,392. 44.99% of the stock is currently owned by insiders.

Institutional Trading of ProKidney

Institutional investors and hedge funds have recently modified their holdings of the stock. Federated Hermes Inc. grew its stake in ProKidney by 10,984.7% in the fourth quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after purchasing an additional 112,264 shares in the last quarter. Jump Financial LLC purchased a new stake in shares of ProKidney in the 3rd quarter worth $216,000. Finally, SG Americas Securities LLC grew its position in shares of ProKidney by 174.2% during the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock worth $83,000 after buying an additional 29,749 shares in 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.