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

ProKidney Corp. (NASDAQ:PROK) saw an uptick in trading volume on Thursday . 477,394 shares traded hands during mid-day 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.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on PROK shares. Guggenheim began coverage on shares of ProKidney in a report on Tuesday, September 10th. They set a “buy” rating and a $6.00 price target on the stock. Bank of America cut their target price on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, Jefferies Financial Group decreased their target price on ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a research report on Monday, June 10th.

ProKidney Stock Up 2.9 %

The firm has a market capitalization of $564.19 million, a PE ratio of -4.32 and a beta of 1.10. The business’s 50-day moving average price is $2.28 and its 200-day moving average price is $2.37.

ProKidney (NASDAQ:PROK) last posted its quarterly 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. On average, analysts anticipate that ProKidney Corp. will post -0.44 EPS for the current fiscal year.

Insider Buying and Selling

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the company’s stock in a transaction dated Thursday, September 19th. The stock was sold at an average price of $2.50, for a total value of $41,030.00. Following the transaction, the insider now directly owns 103,480 shares of the company’s stock, valued at approximately $258,700. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 41.49% of the stock is owned by corporate insiders.

Institutional Trading of ProKidney

A number of institutional investors have recently added to or reduced their stakes in PROK. Susquehanna Fundamental Investments LLC bought a new position in shares of ProKidney during the 2nd quarter valued at $106,000. The Manufacturers Life Insurance Company bought a new stake in ProKidney in the second quarter worth $60,000. AQR Capital Management LLC acquired a new position in ProKidney during the second quarter worth $50,000. Marshall Wace LLP bought a new position in ProKidney during the second quarter valued at about $124,000. Finally, Rhumbline Advisers lifted its position in shares of ProKidney by 8.8% in the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock worth $187,000 after buying an additional 6,181 shares during 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.