ProKidney (NASDAQ:PROK) Trading 8.7% Higher – Here’s What Happened

ProKidney Corp. (NASDAQ:PROK)’s stock price was up 8.7% during mid-day trading on Tuesday . The company traded as high as $1.80 and last traded at $1.81. Approximately 286,332 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 553,330 shares. The stock had previously closed at $1.66.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. assumed coverage on shares of ProKidney in a report on Monday, September 30th. They set a “neutral” rating for the company. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $4.50.

ProKidney Price Performance

The firm has a market cap of $495.82 million, a PE ratio of -3.09 and a beta of 1.32. The stock has a 50-day moving average price of $1.78 and a 200 day moving average price of $1.99.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings data on Tuesday, November 12th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). As a group, equities research analysts anticipate that ProKidney Corp. will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On ProKidney

A number of large investors have recently bought and sold shares of the stock. AQR Capital Management LLC acquired a new stake in shares of ProKidney during the 2nd quarter worth $50,000. XTX Topco Ltd purchased a new stake in ProKidney during the third quarter valued at about $41,000. Intech Investment Management LLC acquired a new stake in ProKidney during the third quarter worth about $46,000. The Manufacturers Life Insurance Company purchased a new position in shares of ProKidney in the 2nd quarter worth about $60,000. Finally, Castleview Partners LLC acquired a new position in shares of ProKidney in the 3rd quarter valued at about $63,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

About ProKidney

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.