ProKidney (NASDAQ:PROK) Trading Down 5.5% – Should You Sell?

ProKidney Corp. (NASDAQ:PROK)’s share price traded down 5.5% during trading on Thursday . The stock traded as low as $2.15 and last traded at $2.1550. 358,174 shares changed hands during trading, a decline of 63% from the average session volume of 973,694 shares. The stock had previously closed at $2.28.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PROK. HC Wainwright assumed coverage on shares of ProKidney in a research report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price objective for the company. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research note on Wednesday, October 8th. Four research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, ProKidney has a consensus rating of “Hold” and an average price target of $7.40.

ProKidney Stock Performance

The company has a market capitalization of $660.32 million, a PE ratio of -3.99 and a beta of 1.79. The firm’s 50-day simple moving average is $2.34 and its 200 day simple moving average is $2.59.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Monday, November 10th. The company reported ($0.12) EPS for the quarter, meeting the consensus estimate of ($0.12). The company had revenue of $0.22 million during the quarter, compared to analyst estimates of $0.04 million. As a group, equities analysts anticipate that ProKidney Corp. will post -0.57 earnings per share for the current year.

Insider Buying and Selling at ProKidney

In related news, Director Brian Jg Pereira sold 502,136 shares of the firm’s stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $2.37, for a total value of $1,190,062.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 41.49% of the stock is currently owned by corporate insiders.

Institutional Trading of ProKidney

A number of institutional investors have recently bought and sold shares of the company. Y Intercept Hong Kong Ltd acquired a new position in shares of ProKidney during the 2nd quarter worth $208,000. Catalyst Funds Management Pty Ltd purchased a new position in ProKidney during the 2nd quarter valued at about $36,000. Two Sigma Investments LP raised its position in ProKidney by 40.4% during the third quarter. Two Sigma Investments LP now owns 99,282 shares of the company’s stock worth $240,000 after acquiring an additional 28,583 shares during the last quarter. Squarepoint Ops LLC acquired a new position in ProKidney during the third quarter worth about $834,000. Finally, UBS Group AG lifted its holdings in shares of ProKidney by 7.0% in the third quarter. UBS Group AG now owns 508,353 shares of the company’s stock valued at $1,230,000 after purchasing an additional 33,306 shares in the last quarter. 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.