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

ProKidney Corp. (NASDAQ:PROK)’s stock price traded down 5.5% on Thursday . The company 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

Several analysts have recently issued reports on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research report on Wednesday, October 8th. HC Wainwright initiated coverage on ProKidney in a report on Tuesday, December 16th. They issued a “buy” rating and a $12.00 price objective on the stock. Four equities 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 company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $7.40.

ProKidney Price Performance

The stock has a market capitalization of $688.91 million, a PE ratio of -4.16 and a beta of 1.79. The company’s 50 day moving average price is $2.32 and its two-hundred day moving average price is $2.60.

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

Insider Activity at ProKidney

In related news, Director Brian Jg Pereira sold 502,136 shares of ProKidney stock in a transaction that occurred on Thursday, November 13th. The stock was sold at an average price of $2.37, for a total transaction of $1,190,062.32. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 41.49% of the company’s stock.

Institutional Trading of ProKidney

Hedge funds and other institutional investors have recently modified their holdings of the stock. Y Intercept Hong Kong Ltd purchased a new stake in shares of ProKidney in the second quarter valued at about $208,000. Catalyst Funds Management Pty Ltd acquired a new position in ProKidney in the 2nd quarter valued at about $36,000. Hennion & Walsh Asset Management Inc. boosted its holdings in ProKidney by 63.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company’s stock valued at $3,369,000 after purchasing an additional 583,983 shares during the last quarter. FNY Investment Advisers LLC grew its stake in shares of ProKidney by 590,620.0% in the 4th quarter. FNY Investment Advisers LLC now owns 59,052 shares of the company’s stock valued at $132,000 after buying an additional 59,062 shares during the period. Finally, Millennium Management LLC acquired a new stake in shares of ProKidney during the 3rd quarter worth approximately $4,734,000. 51.59% of the stock is owned by institutional investors and hedge funds.

About ProKidney

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.