ProKidney (NASDAQ:PROK) Shares Down 5%

Shares of ProKidney Corp. (NASDAQ:PROK) fell 5% on Tuesday . The stock traded as low as $6.11 and last traded at $6.11. 11,754 shares traded hands during mid-day trading, a decline of 96% from the average session volume of 269,019 shares. The stock had previously closed at $6.43.

Wall Street Analyst Weigh In

Separately, BTIG Research assumed coverage on ProKidney in a research report on Monday, July 24th. They issued a “buy” rating and a $16.00 price objective for the company. One analyst has rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $15.33.

ProKidney Price Performance

The stock has a market capitalization of $1.30 billion and a PE ratio of -11.09. The business has a 50 day moving average price of $10.27 and a 200 day moving average price of $10.72.

ProKidney (NASDAQ:PROK) last released its earnings results on Thursday, August 10th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.41) by $0.27. On average, equities analysts expect that ProKidney Corp. will post -1.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. State of Wisconsin Investment Board lifted its holdings in shares of ProKidney by 4.5% during the second quarter. State of Wisconsin Investment Board now owns 28,972 shares of the company’s stock valued at $324,000 after purchasing an additional 1,251 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in shares of ProKidney by 98.5% during the first quarter. Tower Research Capital LLC TRC now owns 4,456 shares of the company’s stock valued at $50,000 after purchasing an additional 2,211 shares in the last quarter. Salem Investment Counselors Inc. lifted its holdings in shares of ProKidney by 547.9% during the second quarter. Salem Investment Counselors Inc. now owns 3,000 shares of the company’s stock valued at $34,000 after purchasing an additional 2,537 shares in the last quarter. UBS Group AG lifted its holdings in shares of ProKidney by 97.5% during the first quarter. UBS Group AG now owns 5,209 shares of the company’s stock valued at $59,000 after purchasing an additional 2,571 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new position in shares of ProKidney during the second quarter valued at $31,000. 16.94% of the stock is owned by institutional investors.

ProKidney Company Profile

ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture that is in Phase I 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.