ProKidney (NASDAQ:PROK – Get Free Report) posted its earnings results on Tuesday. The company reported ($0.18) EPS for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.02), MarketWatch Earnings reports.
ProKidney Stock Performance
Shares of PROK stock opened at $1.39 on Thursday. ProKidney has a fifty-two week low of $1.34 and a fifty-two week high of $14.19. The firm has a market capitalization of $326.83 million, a PE ratio of -2.57 and a beta of 0.75. The stock’s 50-day simple moving average is $3.78 and its 200-day simple moving average is $8.27.
Analysts Set New Price Targets
Separately, BTIG Research started coverage on shares of ProKidney in a research note on Monday, July 24th. They issued a “buy” rating and a $16.00 target price for the company.
Insider Buying and Selling
In related news, major shareholder Chamath Palihapitiya sold 88,700 shares of the stock in a transaction that occurred on Monday, November 13th. The shares were sold at an average price of $1.57, for a total value of $139,259.00. Following the transaction, the insider now owns 6,242,367 shares in the company, valued at approximately $9,800,516.19. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 3,479,240 shares of company stock valued at $13,145,058 over the last quarter. 44.99% of the stock is currently owned by company insiders.
Institutional Trading of ProKidney
Several large investors have recently made changes to their positions in PROK. State of Wisconsin Investment Board lifted its position in 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 during the period. Tower Research Capital LLC TRC raised its stake in shares of ProKidney by 98.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,456 shares of the company’s stock valued at $50,000 after buying an additional 2,211 shares during the last quarter. UBS Group AG raised its stake in shares of ProKidney by 97.5% during the 1st quarter. UBS Group AG now owns 5,209 shares of the company’s stock valued at $59,000 after buying an additional 2,571 shares during the last quarter. Lazard Asset Management LLC acquired a new position in shares of ProKidney in the 2nd quarter valued at about $31,000. Finally, Credit Suisse AG boosted its stake in shares of ProKidney by 13.1% in the first quarter. Credit Suisse AG now owns 24,108 shares of the company’s stock worth $273,000 after buying an additional 2,785 shares during the last quarter. 16.94% 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. 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.
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