ProKidney Corp. (NASDAQ:PROK) Shares Acquired by Suvretta Capital Management LLC

Suvretta Capital Management LLC lifted its holdings in ProKidney Corp. (NASDAQ:PROK) by 32.1% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,341,266 shares of the company’s stock after purchasing an additional 3,000,000 shares during the period. Suvretta Capital Management LLC owned approximately 4.26% of ProKidney worth $23,695,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Intech Investment Management LLC purchased a new position in ProKidney in the 3rd quarter valued at approximately $46,000. AQR Capital Management LLC purchased a new position in ProKidney in the second quarter valued at $50,000. The Manufacturers Life Insurance Company acquired a new position in ProKidney during the 2nd quarter worth $60,000. Castleview Partners LLC purchased a new stake in ProKidney during the 3rd quarter worth about $63,000. Finally, The Manufacturers Life Insurance Company raised its position in ProKidney by 54.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 37,981 shares of the company’s stock valued at $73,000 after purchasing an additional 13,415 shares in the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Darin J. Weber sold 16,412 shares of ProKidney stock in a transaction on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total value of $41,030.00. Following the transaction, the insider now directly owns 103,480 shares of the company’s stock, valued at $258,700. The trade was a 13.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 41.49% of the company’s stock.

ProKidney Price Performance

PROK stock opened at $1.85 on Friday. The company’s 50 day moving average is $1.83 and its two-hundred day moving average is $2.35. ProKidney Corp. has a twelve month low of $1.18 and a twelve month high of $4.44.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). On average, equities research analysts expect that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on PROK shares. Guggenheim began coverage on ProKidney in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.00 price objective for the company. Bank of America lowered their price target on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. started coverage on shares of ProKidney in a research report on Monday, September 30th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $4.50.

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.