Nuveen LLC Makes New Investment in ProKidney Corp. $PROK

Nuveen LLC purchased a new position in ProKidney Corp. (NASDAQ:PROK) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 266,366 shares of the company’s stock, valued at approximately $233,000. Nuveen LLC owned 0.09% of ProKidney at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp raised its position in ProKidney by 7.4% in the fourth quarter. Northern Trust Corp now owns 890,907 shares of the company’s stock worth $1,506,000 after acquiring an additional 61,206 shares during the period. Hennion & Walsh Asset Management Inc. raised its position in shares of ProKidney by 48.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 844,277 shares of the company’s stock valued at $740,000 after purchasing an additional 275,630 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of ProKidney by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 825,647 shares of the company’s stock valued at $723,000 after purchasing an additional 65,860 shares during the period. Bank of America Corp DE raised its position in shares of ProKidney by 3.2% during the 4th quarter. Bank of America Corp DE now owns 539,232 shares of the company’s stock valued at $911,000 after purchasing an additional 16,538 shares during the period. Finally, Nuveen Asset Management LLC raised its position in shares of ProKidney by 17.3% during the 4th quarter. Nuveen Asset Management LLC now owns 266,366 shares of the company’s stock valued at $450,000 after purchasing an additional 39,216 shares during the period. 51.59% of the stock is currently owned by institutional investors.

Insider Activity at ProKidney

In other ProKidney news, insider Darin J. Weber sold 103,480 shares of ProKidney stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total value of $312,509.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 41.49% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Wall Street Zen upgraded shares of ProKidney from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. UBS Group raised their price objective on shares of ProKidney from $4.00 to $8.00 and gave the company a “buy” rating in a research report on Tuesday, July 15th. Guggenheim restated a “buy” rating and set a $7.00 price objective (up from $6.00) on shares of ProKidney in a research report on Monday, July 14th. Bank of America downgraded shares of ProKidney from a “neutral” rating to an “underperform” rating and reduced their price target for the company from $3.00 to $1.00 in a report on Monday, June 30th. Finally, Zacks Research downgraded shares of ProKidney from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $6.25.

ProKidney Stock Performance

Shares of NASDAQ PROK opened at $2.25 on Friday. The company has a market cap of $662.13 million, a P/E ratio of -3.95 and a beta of 1.74. The firm’s fifty day moving average is $2.62 and its two-hundred day moving average is $1.47. ProKidney Corp. has a 52-week low of $0.46 and a 52-week high of $7.13.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $0.22 million during the quarter. As a group, analysts forecast that ProKidney Corp. will post -0.57 EPS for the current fiscal year.

ProKidney 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.