483,741 Shares of ProKidney Corp. $PROK Bought by Simplify Asset Management Inc.

Simplify Asset Management Inc. bought a new stake in ProKidney Corp. (NASDAQ:PROK) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 483,741 shares of the company’s stock, valued at approximately $803,000.

A number of other large investors have also recently made changes to their positions in PROK. Hennion & Walsh Asset Management Inc. grew its stake in ProKidney by 14.6% during the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,847,749 shares of the company’s stock worth $3,769,000 after buying an additional 236,056 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in shares of ProKidney by 39.6% in the first 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. Bank of America Corp DE boosted its holdings in shares of ProKidney by 6.7% in the first quarter. Bank of America Corp DE now owns 753,412 shares of the company’s stock valued at $1,349,000 after acquiring an additional 47,268 shares during the period. Amundi boosted its holdings in shares of ProKidney by 7.2% in the first quarter. Amundi now owns 291,708 shares of the company’s stock valued at $522,000 after acquiring an additional 19,466 shares during the period. Finally, AXQ Capital LP acquired a new position in shares of ProKidney in the 2nd quarter valued at $76,000. 51.59% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other ProKidney news, Director Brian Pereira sold 222,948 shares of ProKidney stock in a transaction that occurred on Thursday, August 20th. The stock was 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 approximately $76,826.26. This trade represents a 80.47% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Over the last ninety days, insiders sold 757,164 shares of company stock worth $1,067,315. 39.83% of the stock is currently owned by company insiders.

ProKidney Stock Up 0.3%

NASDAQ PROK opened at $1.52 on Thursday. ProKidney Corp. has a 52-week low of $1.30 and a 52-week high of $3.27. The business’s 50-day moving average price is $1.67 and its 200 day moving average price is $1.83. The firm has a market cap of $459.53 million, a P/E ratio of -2.76 and a beta of 1.77.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research report on Tuesday, October 6th. Citigroup decreased their price target on shares of ProKidney to $8.00 and set a “buy” rating for the company in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, ProKidney has a consensus rating of “Moderate Buy” and an average target price of $10.00.

ProKidney Company Profile

ProKidney Corporation is a biotechnology company focused on developing cell-based therapies for chronic kidney disease (CKD). The company’s lead investigational product is rilparencel, formerly known as REACT, an autologous cell therapy made from a patient’s own kidney cells.

Rilparencel is designed to be injected into the patient’s kidneys, where the cells are intended to support kidney function and potentially slow the progression of CKD. ProKidney is studying the therapy primarily in patients with diabetic kidney disease and advanced CKD, with the goal of delaying or reducing the need for dialysis or kidney transplantation.

ProKidney’s operations are centered on the development and clinical testing of rilparencel, and the company does not currently have an approved commercial product.