ProKidney (NASDAQ:PROK) Trading Up 5.8%

Shares of ProKidney Corp. (NASDAQ:PROK) shot up 5.8% during trading on Tuesday . The company traded as high as $2.40 and last traded at $2.37. 278,261 shares traded hands during trading, a decline of 59% from the average session volume of 678,171 shares. The stock had previously closed at $2.24.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley initiated 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 Stock Performance

The firm has a market cap of $548.12 million, a price-to-earnings ratio of -4.19 and a beta of 0.78. The company has a 50 day moving average price of $1.81 and a 200 day moving average price of $1.67.

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

Insider Buying and Selling at ProKidney

In other ProKidney news, SVP Darin J. Weber sold 84,103 shares of the company’s stock in a transaction on Friday, April 12th. The stock was sold at an average price of $1.73, for a total transaction of $145,498.19. Following the transaction, the senior vice president now directly owns 189,670 shares in the company, valued at $328,129.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, SVP Darin J. Weber sold 16,438 shares of the firm’s stock in a transaction that occurred on Monday, April 22nd. The shares were sold at an average price of $2.51, for a total value of $41,259.38. Following the completion of the transaction, the senior vice president now owns 155,194 shares of the company’s stock, valued at $389,536.94. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, SVP Darin J. Weber sold 84,103 shares of ProKidney stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $1.73, for a total transaction of $145,498.19. Following the completion of the transaction, the senior vice president now owns 189,670 shares of the company’s stock, valued at approximately $328,129.10. The disclosure for this sale can be found here. Insiders have sold a total of 118,879 shares of company stock valued at $232,392 over the last quarter. 44.99% of the stock is owned by company insiders.

Hedge Funds Weigh In On ProKidney

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Zullo Investment Group Inc. purchased a new stake in shares of ProKidney during the first quarter worth $32,000. Federated Hermes Inc. increased its holdings in ProKidney by 10,984.7% during the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after purchasing an additional 112,264 shares during the period. SG Americas Securities LLC increased its holdings in 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 purchasing an additional 29,749 shares during the period. Finally, Jump Financial LLC acquired a new stake in ProKidney in the 3rd quarter valued at about $216,000. Hedge funds and other 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.