Renaissance Technologies LLC Has $2.24 Million Stake in ProKidney Corp. $PROK

Renaissance Technologies LLC boosted its position in shares of ProKidney Corp. (NASDAQ:PROK) by 39.6% during the 1st quarter, HoldingsChannel.com reports. The fund owned 1,250,794 shares of the company’s stock after buying an additional 355,089 shares during the quarter. Renaissance Technologies LLC’s holdings in ProKidney were worth $2,239,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Millennium Management LLC bought a new position in shares of ProKidney in the 3rd quarter valued at about $4,734,000. Artia Global Partners LP acquired a new stake in ProKidney in the 4th quarter valued at about $4,118,000. JPMorgan Chase & Co. lifted its stake in ProKidney by 3,024.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock valued at $988,000 after purchasing an additional 1,615,243 shares during the last quarter. Jane Street Group LLC bought a new position in ProKidney during the second quarter worth about $350,000. Finally, Marshall Wace LLP grew its holdings in ProKidney by 654.2% during the fourth quarter. Marshall Wace LLP now owns 612,485 shares of the company’s stock worth $1,372,000 after purchasing an additional 531,279 shares during the period. Institutional investors and hedge funds own 51.59% of the company’s stock.

ProKidney Stock Up 3.0%

Shares of NASDAQ:PROK opened at $1.69 on Tuesday. ProKidney Corp. has a 12-month low of $1.45 and a 12-month high of $3.48. The business has a 50 day moving average of $1.72 and a 200-day moving average of $1.89. The stock has a market cap of $510.48 million, a PE ratio of -3.19 and a beta of 1.66.

ProKidney (NASDAQ:PROK) last announced its earnings results on Monday, August 10th. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01). The firm had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.19 million. Equities research analysts expect that ProKidney Corp. will post -0.49 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Wall Street Zen downgraded ProKidney from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. HC Wainwright reiterated a “buy” rating and set a $12.00 target price on shares of ProKidney in a research note on Monday, May 18th. Finally, Weiss Ratings raised ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.