Insider Selling: ProKidney (NASDAQ:PROK) Director Sells $316,586.16 in Stock

ProKidney Corp. (NASDAQ:PROK) Director Brian Jg Pereira sold 222,948 shares of the company’s stock in a transaction dated Thursday, August 20th. The shares were sold at an average price of $1.42, for a total value of $316,586.16. Following the transaction, the director directly owned 54,103 shares in the company, valued at $76,826.26. This represents a 80.47% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Brian Jg Pereira also recently made the following trade(s):

• On Thursday, August 20th, Brian Jg Pereira sold 27,052 shares of ProKidney stock. The shares were sold at an average price of $1.42, for a total value of $38,413.84.
• On Wednesday, August 19th, Brian Jg Pereira sold 222,949 shares of ProKidney stock. The stock was sold at an average price of $1.44, for a total value of $321,046.56.
• On Wednesday, August 19th, Brian Jg Pereira sold 27,051 shares of ProKidney stock. The stock was sold at an average price of $1.44, for a total value of $38,953.44.
• On Tuesday, August 18th, Brian Jg Pereira sold 229,338 shares of ProKidney stock. The stock was sold at an average price of $1.37, for a total value of $314,193.06.
• On Tuesday, August 18th, Brian Jg Pereira sold 27,826 shares of ProKidney stock. The shares were sold at an average price of $1.37, for a total transaction of $38,121.62.

ProKidney Stock Down 4.1%

Shares of PROK traded down $0.06 during mid-day trading on Thursday, hitting $1.42. 1,828,075 shares of the company traded hands, compared to its average volume of 1,027,994. The company has a market capitalization of $429.29 million, a PE ratio of -2.58 and a beta of 1.66. The business has a 50 day moving average of $1.67 and a 200 day moving average of $1.85. ProKidney Corp. has a 1-year low of $1.30 and a 1-year high of $3.48.

ProKidney (NASDAQ:PROK) last released its earnings results on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The company had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.19 million. As a group, research analysts expect that ProKidney Corp. will post -0.51 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have recently commented on PROK. HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of ProKidney in a research note on Monday, May 18th. Weiss Ratings raised ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. Finally, Wall Street Zen lowered ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.00.

Institutional Investors Weigh In On ProKidney

A number of large investors have recently bought and sold shares of the company. Artia Global Partners LP purchased a new position in ProKidney during the 4th quarter worth approximately $4,118,000. Renaissance Technologies LLC lifted its stake in ProKidney by 39.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,250,794 shares of the company’s stock valued at $2,239,000 after acquiring an additional 355,089 shares during the period. Jane Street Group LLC purchased a new stake in shares of ProKidney in the 2nd quarter valued at $350,000. OMERS ADMINISTRATION Corp purchased a new stake in shares of ProKidney in the 4th quarter valued at $279,000. Finally, Marshall Wace LLP acquired a new stake in shares of ProKidney in the second quarter worth $274,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

About ProKidney

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.