ProKidney (NASDAQ:PROK – Get Free Report) announced its quarterly earnings data on Tuesday. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.16) by ($0.02), MarketWatch Earnings reports.
ProKidney Price Performance
ProKidney stock opened at $1.23 on Friday. The firm’s 50 day simple moving average is $3.51 and its 200-day simple moving average is $8.17. ProKidney has a fifty-two week low of $1.17 and a fifty-two week high of $14.19.
Analysts Set New Price Targets
Separately, BTIG Research began coverage on shares of ProKidney in a research report on Monday, July 24th. They issued a “buy” rating and a $16.00 target price on the stock.
Insider Buying and Selling
In related news, major shareholder Chamath Palihapitiya sold 52,621 shares of the firm’s stock in a transaction that occurred on Thursday, October 5th. The shares were sold at an average price of $4.76, for a total transaction of $250,475.96. Following the completion of the sale, the insider now directly owns 9,447,379 shares in the company, valued at $44,969,524.04. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Over the last three months, insiders sold 3,479,240 shares of company stock worth $13,145,058. 44.99% of the stock is owned by company insiders.
Institutional Trading of ProKidney
Institutional investors have recently made changes to their positions in the stock. Morgan Stanley raised its position in ProKidney by 5.8% during the fourth quarter. Morgan Stanley now owns 10,947,495 shares of the company’s stock valued at $75,100,000 after acquiring an additional 595,839 shares in the last quarter. BlackRock Inc. lifted its stake in shares of ProKidney by 978.2% in the 2nd quarter. BlackRock Inc. now owns 3,316,973 shares of the company’s stock valued at $37,117,000 after purchasing an additional 3,009,342 shares during the last quarter. State Street Corp boosted its holdings in ProKidney by 1,540.0% in the second quarter. State Street Corp now owns 990,259 shares of the company’s stock worth $11,081,000 after purchasing an additional 929,878 shares in the last quarter. Geode Capital Management LLC increased its position in ProKidney by 450.9% during the second quarter. Geode Capital Management LLC now owns 760,823 shares of the company’s stock worth $8,514,000 after buying an additional 622,728 shares during the last quarter. Finally, Northern Trust Corp increased its position in ProKidney by 1,451.6% during the second quarter. Northern Trust Corp now owns 452,186 shares of the company’s stock worth $5,060,000 after buying an additional 423,043 shares during the last quarter. 16.94% of the stock is currently owned by institutional investors and hedge funds.
ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture that is in Phase I 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.
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