Hennion & Walsh Asset Management Inc. Buys New Stake in ProKidney Corp. (NASDAQ:PROK)

Hennion & Walsh Asset Management Inc. purchased a new position in shares of ProKidney Corp. (NASDAQ:PROK) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 568,647 shares of the company’s stock, valued at approximately $961,000. Hennion & Walsh Asset Management Inc. owned 0.19% of ProKidney at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of ProKidney by 150.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 749,718 shares of the company’s stock worth $1,439,000 after purchasing an additional 450,548 shares in the last quarter. Suvretta Capital Management LLC lifted its holdings in ProKidney by 32.1% in the 3rd quarter. Suvretta Capital Management LLC now owns 12,341,266 shares of the company’s stock worth $23,695,000 after buying an additional 3,000,000 shares in the last quarter. Geode Capital Management LLC lifted its holdings in ProKidney by 102.0% in the 3rd quarter. Geode Capital Management LLC now owns 2,203,934 shares of the company’s stock worth $4,232,000 after buying an additional 1,112,933 shares in the last quarter. State Street Corp boosted its position in ProKidney by 16.2% in the 3rd quarter. State Street Corp now owns 1,428,318 shares of the company’s stock valued at $2,742,000 after buying an additional 198,836 shares during the last quarter. Finally, Barclays PLC grew its stake in shares of ProKidney by 575.7% during the third quarter. Barclays PLC now owns 146,321 shares of the company’s stock valued at $281,000 after acquiring an additional 124,667 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

ProKidney Stock Performance

PROK opened at $1.66 on Monday. The company has a market capitalization of $484.16 million, a P/E ratio of -3.02 and a beta of 1.32. The company has a 50-day moving average of $1.80 and a 200-day moving average of $2.00. ProKidney Corp. has a 1-year low of $1.18 and a 1-year high of $4.44.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). As a group, sell-side analysts expect that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. started coverage on ProKidney in a report on Monday, September 30th. They issued a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $4.50.

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.