Federated Hermes Inc. Decreases Position in ProKidney Corp. (NASDAQ:PROK)

Federated Hermes Inc. decreased its position in shares of ProKidney Corp. (NASDAQ:PROK) by 79.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 23,303 shares of the company’s stock after selling 89,983 shares during the quarter. Federated Hermes Inc.’s holdings in ProKidney were worth $57,000 as of its most recent filing with the Securities & Exchange Commission.

Separately, Rhumbline Advisers boosted its stake in ProKidney by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after purchasing an additional 6,181 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on PROK shares. Guggenheim started coverage on ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price target for the company. Bank of America decreased their target price on ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a research report on Wednesday, September 4th. Finally, Jefferies Financial Group dropped their price target on shares of ProKidney from $15.00 to $6.00 and set a “buy” rating on the stock in a report on Monday, June 10th.

ProKidney Stock Performance

ProKidney stock opened at $2.06 on Thursday. ProKidney Corp. has a one year low of $1.12 and a one year high of $4.98. The stock has a fifty day moving average of $2.27 and a 200 day moving average of $2.39. The stock has a market cap of $472.45 million, a PE ratio of -3.61 and a beta of 1.10.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Friday, August 9th. The company reported ($0.16) EPS for the quarter, beating the consensus estimate of ($0.17) by $0.01. As a group, sell-side analysts predict that ProKidney Corp. will post -0.44 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Darin J. Weber sold 16,412 shares of the business’s stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total transaction of $41,030.00. Following the completion of the sale, the insider now owns 103,480 shares of the company’s stock, valued at approximately $258,700. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 41.49% 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.