Chamath Palihapitiya Sells 157,000 Shares of ProKidney Corp. (NASDAQ:PROK) Stock

ProKidney Corp. (NASDAQ:PROK) major shareholder Chamath Palihapitiya sold 157,000 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $1.65, for a total value of $259,050.00. Following the sale, the insider now owns 7,270,000 shares of the company’s stock, valued at approximately $11,995,500. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

Chamath Palihapitiya also recently made the following trade(s):

• On Friday, October 27th, Chamath Palihapitiya sold 92,500 shares of ProKidney stock. The shares were sold at an average price of $1.59, for a total value of $147,075.00.
• On Wednesday, October 25th, Chamath Palihapitiya sold 67,213 shares of ProKidney stock. The stock was sold at an average price of $1.76, for a total value of $118,294.88.
• On Monday, October 23rd, Chamath Palihapitiya sold 160,300 shares of ProKidney stock. The stock was sold at an average price of $1.83, for a total value of $293,349.00.
• On Friday, October 20th, Chamath Palihapitiya sold 87,200 shares of ProKidney stock. The stock was sold at an average price of $1.92, for a total value of $167,424.00.
• On Wednesday, October 18th, Chamath Palihapitiya sold 125,100 shares of ProKidney stock. The stock was sold at an average price of $2.28, for a total value of $285,228.00.
• On Monday, October 16th, Chamath Palihapitiya sold 215,543 shares of ProKidney stock. The stock was sold at an average price of $2.87, for a total value of $618,608.41.
• On Thursday, October 12th, Chamath Palihapitiya sold 161,863 shares of ProKidney stock. The stock was sold at an average price of $2.69, for a total value of $435,411.47.
• On Monday, October 9th, Chamath Palihapitiya sold 75,000 shares of ProKidney stock. The stock was sold at an average price of $4.20, for a total value of $315,000.00.
• On Thursday, October 5th, Chamath Palihapitiya sold 52,621 shares of ProKidney stock. The stock was sold at an average price of $4.76, for a total value of $250,475.96.
• On Tuesday, September 19th, Chamath Palihapitiya sold 1,700,000 shares of ProKidney stock. The stock was sold at an average price of $5.47, for a total value of $9,299,000.00.

ProKidney Trading Up 2.1 %

Shares of NASDAQ PROK opened at $1.67 on Thursday. The company has a market cap of $391.49 million, a price-to-earnings ratio of -3.08 and a beta of 0.48. ProKidney Corp. has a 12-month low of $1.45 and a 12-month high of $14.19. The stock’s 50 day simple moving average is $5.05 and its 200 day simple moving average is $8.90.

ProKidney (NASDAQ:PROK) last announced its earnings results on Thursday, August 10th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.41) by $0.27. As a group, equities analysts forecast that ProKidney Corp. will post -0.69 earnings per share for the current fiscal year.

Institutional Trading of ProKidney

Several hedge funds have recently added to or reduced their stakes in PROK. BlackRock Inc. bought a new stake in ProKidney during the 3rd quarter valued at $980,000. Vanguard Group Inc. bought a new stake in ProKidney during the 3rd quarter valued at $1,370,000. Bank of America Corp DE raised its stake in ProKidney by 1,964,340.0% during the 4th quarter. Bank of America Corp DE now owns 196,444 shares of the company’s stock valued at $1,348,000 after acquiring an additional 196,434 shares in the last quarter. Geode Capital Management LLC raised its stake in ProKidney by 29.5% during the 4th quarter. Geode Capital Management LLC now owns 132,808 shares of the company’s stock valued at $911,000 after acquiring an additional 30,253 shares in the last quarter. Finally, Amundi acquired a new position in shares of ProKidney during the 4th quarter valued at $182,000. Institutional investors own 16.94% of the company’s stock.

Analysts Set New Price Targets

Separately, BTIG Research started coverage on ProKidney in a report on Monday, July 24th. They issued a “buy” rating and a $16.00 price target on the stock.

ProKidney Company Profile

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.