Control Empresarial De Capital Acquires 8,264,462 Shares of ProKidney Corp. (NASDAQ:PROK) Stock

ProKidney Corp. (NASDAQ:PROK) insider Control Empresarial De Capital acquired 8,264,462 shares of the company’s stock in a transaction on Tuesday, June 11th. The stock was acquired at an average price of $2.42 per share, with a total value of $19,999,998.04. Following the acquisition, the insider now owns 71,560,107 shares in the company, valued at approximately $173,175,458.94. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website.

ProKidney Stock Up 1.8 %

PROK opened at $2.27 on Thursday. The stock has a market cap of $520.60 million, a PE ratio of -3.98 and a beta of 1.21. The business has a 50 day moving average of $2.95 and a 200-day moving average of $2.06. ProKidney Corp. has a 52 week low of $1.12 and a 52 week high of $13.51.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings data on Friday, May 10th. The company reported ($0.16) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.09. Equities analysts anticipate that ProKidney Corp. will post -0.56 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Zullo Investment Group Inc. bought a new position in ProKidney during the 1st quarter valued at approximately $32,000. SG Americas Securities LLC increased its position in ProKidney by 174.2% during the 4th quarter. SG Americas Securities LLC now owns 46,829 shares of the company’s stock valued at $83,000 after buying an additional 29,749 shares in the last quarter. Finally, Federated Hermes Inc. increased its position in ProKidney by 10,984.7% during the 4th quarter. Federated Hermes Inc. now owns 113,286 shares of the company’s stock valued at $202,000 after buying an additional 112,264 shares in the last quarter. Institutional investors own 51.59% of the company’s stock.

Wall Street Analysts Forecast Growth

PROK has been the subject of several research analyst reports. Jefferies Financial Group dropped their price objective on ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a report on Monday, June 10th. Bank of America raised their target price on ProKidney from $3.00 to $4.00 and gave the company a “neutral” rating in a research note on Wednesday, May 29th. Finally, Morgan Stanley initiated coverage on ProKidney in a research note on Thursday, March 7th. They issued an “equal weight” rating and a $3.00 target price for the company.

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.