ProKidney (NASDAQ:PROK) Shares Down 2.5%

ProKidney Corp. (NASDAQ:PROK) was down 2.5% on Friday . The stock traded as low as $2.28 and last traded at $2.34. Approximately 70,163 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 645,008 shares. The stock had previously closed at $2.40.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on PROK shares. Bank of America cut ProKidney from a “buy” rating to a “neutral” rating in a report on Tuesday, January 2nd. Morgan Stanley assumed coverage on ProKidney in a report on Thursday, March 7th. They set an “equal weight” rating and a $3.00 price target for the company.

ProKidney Trading Down 3.3 %

The business has a 50-day moving average of $1.59 and a two-hundred day moving average of $1.81.

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

Insider Buying and Selling at ProKidney

In other ProKidney news, SVP Darin J. Weber sold 17,238 shares of the company’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $2.50, for a total value of $43,095.00. Following the sale, the senior vice president now owns 172,432 shares in the company, valued at approximately $431,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, SVP Darin J. Weber sold 17,238 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $2.50, for a total value of $43,095.00. Following the transaction, the senior vice president now directly owns 172,432 shares of the company’s stock, valued at approximately $431,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Darin J. Weber sold 84,103 shares of the business’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $1.73, for a total value of $145,498.19. Following the completion of the transaction, the senior vice president now directly owns 189,670 shares in the company, valued at $328,129.10. The disclosure for this sale can be found here. In the last quarter, insiders have sold 101,641 shares of company stock worth $189,100. Insiders own 44.99% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in PROK. BlackRock Inc. acquired a new position in ProKidney during the 3rd quarter worth approximately $980,000. Vanguard Group Inc. acquired a new position in ProKidney during the 3rd quarter worth approximately $1,370,000. Bank of America Corp DE raised its stake in ProKidney by 1,964,340.0% during the 4th quarter. Bank of America Corp DE now owns 196,444 shares of the company’s stock worth $1,348,000 after buying an additional 196,434 shares during the period. Geode Capital Management LLC raised its stake in ProKidney by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 132,808 shares of the company’s stock worth $911,000 after buying an additional 30,253 shares during the period. Finally, Amundi acquired a new position in ProKidney during the 4th quarter worth approximately $182,000. 51.59% of the stock is owned by institutional investors and hedge funds.

About ProKidney

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.