Brian Jg Pereira Sells 222,949 Shares of ProKidney (NASDAQ:PROK) Stock

ProKidney Corp. (NASDAQ:PROK) Director Brian Jg Pereira sold 222,949 shares of the firm’s stock in a transaction on Wednesday, August 19th. The shares were sold at an average price of $1.44, for a total value of $321,046.56. Following the transaction, the director owned 222,948 shares in the company, valued at approximately $321,045.12. This trade represents a 50.00% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

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

• On Thursday, August 20th, Brian Jg Pereira sold 222,948 shares of ProKidney stock. The stock was sold at an average price of $1.42, for a total transaction of $316,586.16.
• On Thursday, August 20th, Brian Jg Pereira sold 27,052 shares of ProKidney stock. The stock was sold at an average price of $1.42, for a total transaction of $38,413.84.
• On Wednesday, August 19th, Brian Jg Pereira sold 27,051 shares of ProKidney stock. The shares were sold at an average price of $1.44, for a total transaction of $38,953.44.
• On Tuesday, August 18th, Brian Jg Pereira sold 229,338 shares of ProKidney stock. The shares were sold at an average price of $1.37, for a total transaction 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%

ProKidney stock traded down $0.06 during midday trading on Thursday, hitting $1.42. 1,828,075 shares of the stock were exchanged, compared to its average volume of 1,027,994. ProKidney Corp. has a 52-week low of $1.30 and a 52-week high of $3.48. The stock has a market capitalization of $429.29 million, a price-to-earnings ratio of -2.58 and a beta of 1.66. The business’s 50-day moving average price is $1.67 and its 200-day moving average price is $1.85.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings data on Monday, August 10th. The company reported ($0.15) EPS for the quarter, missing the consensus estimate of ($0.14) by ($0.01). The business had revenue of $0.15 million for the quarter, compared to analysts’ expectations of $0.19 million. On average, sell-side analysts predict that ProKidney Corp. will post -0.51 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. AQR Capital Management LLC increased its stake in shares of ProKidney by 106.4% during the 1st 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. JPMorgan Chase & Co. raised its holdings in shares of ProKidney by 3,024.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock worth $988,000 after purchasing an additional 1,615,243 shares during the period. Marshall Wace LLP purchased a new position in ProKidney in the second quarter valued at approximately $274,000. Jane Street Group LLC purchased a new position in ProKidney in the second quarter valued at approximately $350,000. Finally, Bank of America Corp DE grew its holdings in ProKidney by 12.4% during the second quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock valued at $501,000 after purchasing an additional 93,322 shares during the period. 51.59% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

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.