ProKidney Corp. (NASDAQ:PROK) Insider Darin J. Weber Sells 16,412 Shares

ProKidney Corp. (NASDAQ:PROK) insider Darin J. Weber sold 16,412 shares of the stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total value of $41,030.00. Following the completion of the sale, the insider now owns 103,480 shares in the company, valued at $258,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

ProKidney Price Performance

Shares of NASDAQ PROK opened at $2.46 on Friday. The business has a 50-day moving average of $2.28 and a two-hundred day moving average of $2.38. The company has a market capitalization of $564.19 million, a price-to-earnings ratio of -4.32 and a beta of 1.10. ProKidney Corp. has a 1 year low of $1.12 and a 1 year high of $4.98.

ProKidney (NASDAQ:PROK) last posted its earnings results on Friday, August 9th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. As a group, equities research analysts expect that ProKidney Corp. will post -0.44 earnings per share for the current year.

Analyst Ratings Changes

PROK has been the topic of several recent research reports. Jefferies Financial Group cut their price target on ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, June 10th. 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, Guggenheim initiated coverage on shares of ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price target for the company.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Bank of New York Mellon Corp lifted its position in ProKidney by 44.6% in the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock valued at $441,000 after acquiring an additional 55,266 shares during the last quarter. Rhumbline Advisers lifted its holdings in shares of 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 in the 2nd quarter valued at about $124,000. Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProKidney in the 2nd quarter valued at about $106,000. Finally, The Manufacturers Life Insurance Company purchased a new position in ProKidney during the 2nd quarter worth approximately $60,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

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.