ProKidney (NASDAQ:PROK) Stock Price Down 6.8% – What’s Next?

Shares of ProKidney Corp. (NASDAQ:PROK) fell 6.8% during mid-day trading on Friday . The stock traded as low as $2.37 and last traded at $2.3950. 690,601 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 4,477,947 shares. The stock had previously closed at $2.57.

Wall Street Analysts Forecast Growth

A number of research firms have commented on PROK. Zacks Research lowered shares of ProKidney from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a research note on Wednesday, October 8th. Three 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 data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $6.25.

ProKidney Price Performance

The company’s 50-day simple moving average is $2.72 and its two-hundred day simple moving average is $2.29. The firm has a market capitalization of $703.94 million, a P/E ratio of -4.25 and a beta of 1.79.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings data on Monday, November 10th. The company reported ($0.12) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.12). The business had revenue of $0.22 million for the quarter, compared to the consensus estimate of $0.04 million. Analysts predict that ProKidney Corp. will post -0.57 earnings per share for the current year.

Insider Activity at ProKidney

In other news, Director Brian Jg Pereira sold 502,136 shares of ProKidney stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $2.37, for a total transaction of $1,190,062.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 41.49% of the stock is owned by company insiders.

Institutional Investors Weigh In On ProKidney

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Zullo Investment Group Inc. bought a new position in shares of ProKidney in the third quarter worth approximately $28,000. AQR Capital Management LLC lifted 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 valued at $46,000 after buying an additional 27,098 shares in the last quarter. Catalyst Funds Management Pty Ltd bought a new position in ProKidney in the 2nd quarter worth $36,000. Jefferies Financial Group Inc. purchased a new stake in ProKidney in the 3rd quarter worth $158,000. Finally, Virtu Financial LLC bought a new stake in ProKidney during the third quarter valued at about $203,000. Institutional investors own 51.59% of the company’s stock.

ProKidney Company Profile

ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases in the United States. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture, which has completed Phase I clinical trial for REACT in patients with congenital anomalies of the Kidney and Urinary Tract (CAKUT), as well as in Phase III and Phase II clinical trials for the treatment of moderate to severe diabetic kidney disease.