Insider Selling: ProKidney Corp. (NASDAQ:PROK) SVP Sells 16,438 Shares of Stock

ProKidney Corp. (NASDAQ:PROK) SVP Darin J. Weber sold 16,438 shares of the business’s stock in a transaction that occurred on Monday, April 22nd. The stock was sold at an average price of $2.51, for a total transaction of $41,259.38. Following the sale, the senior vice president now owns 155,194 shares of the company’s stock, valued at approximately $389,536.94. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

ProKidney Stock Performance

PROK traded down $0.19 during trading on Tuesday, hitting $2.53. The stock had a trading volume of 1,149,737 shares, compared to its average volume of 688,547. The firm has a market capitalization of $580.24 million, a P/E ratio of -4.63 and a beta of 1.08. The company’s 50-day moving average price is $1.63 and its 200 day moving average price is $1.74. ProKidney Corp. has a twelve month low of $1.12 and a twelve month high of $13.51.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Thursday, March 21st. The company reported ($0.09) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.10. As a group, equities analysts expect that ProKidney Corp. will post -0.65 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ProKidney

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jump Financial LLC acquired a new position in shares of ProKidney during the 3rd quarter worth $216,000. SG Americas Securities LLC acquired a new position in shares of ProKidney during the 3rd quarter worth $78,000. Finally, Federated Hermes Inc. boosted its position in shares of ProKidney by 10,984.7% in the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock worth $202,000 after buying an additional 112,264 shares in the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PROK. Bank of America cut shares of ProKidney from a “buy” rating to a “neutral” rating in a report on Tuesday, January 2nd. Morgan Stanley began coverage on shares of ProKidney in a report on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 target price on the stock.

About ProKidney

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.