ProKidney (NASDAQ:PROK) Stock Price Down 4.7% – Time to Sell?

ProKidney Corp. (NASDAQ:PROK) was down 4.7% on Monday . The stock traded as low as $2.15 and last traded at $2.1450. Approximately 348,417 shares traded hands during trading, a decline of 59% from the average daily volume of 843,821 shares. The stock had previously closed at $2.25.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on PROK. HC Wainwright began coverage on ProKidney in a research note on Tuesday, December 16th. They issued a “buy” rating and a $12.00 price objective for the company. Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a report on Thursday, January 22nd. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, ProKidney presently has an average rating of “Hold” and an average price target of $7.40.

ProKidney Stock Performance

The company has a market capitalization of $639.26 million, a P/E ratio of -3.86 and a beta of 1.75. The firm’s fifty day moving average is $2.18 and its 200 day moving average is $2.44.

Institutional Investors Weigh In On ProKidney

Several hedge funds and other institutional investors have recently modified their holdings of the business. Cetera Investment Advisers bought a new stake in shares of ProKidney during the 4th quarter worth approximately $28,000. Zullo Investment Group Inc. bought a new position in ProKidney in the 3rd quarter valued at $28,000. Catalyst Funds Management Pty Ltd purchased a new stake in ProKidney in the second quarter worth $36,000. AQR Capital Management LLC lifted its position in shares of ProKidney by 106.4% during the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after purchasing an additional 27,098 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new stake in shares of ProKidney during the fourth quarter worth $65,000. 51.59% of the stock is currently owned by hedge funds and other institutional investors.

ProKidney Company Profile

ProKidney, Inc (NASDAQ: PROK) is a clinical-stage biotechnology company focused on developing cell-based therapies for kidney diseases. The company’s research and development activities center on harnessing human-derived proximal tubule cells to address conditions such as acute kidney injury (AKI) and chronic kidney disease (CKD). By targeting the underlying cellular mechanisms of renal injury and dysfunction, ProKidney aims to offer novel regenerative medicine approaches that go beyond current supportive care options.

ProKidney’s lead programs utilize proprietary methods for isolating and expanding renal epithelial cells to create injectable therapeutic products.