ProKidney (NASDAQ:PROK) Price Target Lowered to $3.00 at Bank of America

ProKidney (NASDAQ:PROK) had its price objective lowered by Bank of America from $4.00 to $3.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Separately, Jefferies Financial Group reduced their price target on shares of ProKidney from $15.00 to $6.00 and set a buy rating for the company in a research report on Monday, June 10th.

ProKidney Trading Down 9.2 %

Shares of NASDAQ PROK opened at $2.18 on Wednesday. The firm has a market capitalization of $499.97 million, a P/E ratio of -3.82 and a beta of 1.10. The firm’s 50-day moving average price is $2.28 and its 200-day moving average price is $2.31. ProKidney has a 1-year low of $1.12 and a 1-year high of $8.84.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Friday, August 9th. The company reported ($0.16) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.17) by $0.01. Equities research analysts forecast that ProKidney will post -0.51 EPS for the current year.

Insider Buying and Selling at ProKidney

In related news, Director Pablo G. Legorreta acquired 22,617,909 shares of the stock in a transaction dated Thursday, June 13th. The stock was purchased at an average cost of $2.42 per share, with a total value of $54,735,339.78. Following the completion of the purchase, the director now directly owns 22,617,909 shares in the company, valued at approximately $54,735,339.78. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Control Empresarial De Capital purchased 8,264,462 shares of the business’s stock in a transaction that occurred on Tuesday, June 11th. The shares were acquired at an average cost of $2.42 per share, for a total transaction of $19,999,998.04. Following the completion of the acquisition, the insider now owns 71,560,107 shares in the company, valued at $173,175,458.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Pablo G. Legorreta acquired 22,617,909 shares of ProKidney stock in a transaction on Thursday, June 13th. The stock was purchased at an average cost of $2.42 per share, with a total value of $54,735,339.78. Following the completion of the transaction, the director now directly owns 22,617,909 shares in the company, valued at approximately $54,735,339.78. The disclosure for this purchase can be found here. Company insiders own 41.49% of the company’s stock.

Hedge Funds Weigh In On ProKidney

A number of hedge funds and other institutional investors have recently modified their holdings of the business. The Manufacturers Life Insurance Company purchased a new position in ProKidney in the second quarter worth $60,000. AQR Capital Management LLC bought a new stake in shares of ProKidney during the 2nd quarter worth $50,000. Marshall Wace LLP purchased a new position in shares of ProKidney in the 2nd quarter worth about $124,000. Susquehanna Fundamental Investments LLC bought a new position in ProKidney during the second quarter valued at about $106,000. Finally, Rhumbline Advisers increased its holdings in ProKidney by 8.8% during the second quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock worth $187,000 after buying an additional 6,181 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

ProKidney Company Profile

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.