ProKidney Corp. (NASDAQ:PROK – Get Free Report) major shareholder Chamath Palihapitiya sold 215,543 shares of the firm’s stock in a transaction that occurred on Monday, October 16th. The shares were sold at an average price of $2.87, for a total value of $618,608.41. Following the completion of the sale, the insider now directly owns 8,519,973 shares of the company’s stock, valued at $24,452,322.51. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.
Chamath Palihapitiya also recently made the following trade(s):
- On Wednesday, October 18th, Chamath Palihapitiya sold 125,100 shares of ProKidney stock. The shares were sold at an average price of $2.28, for a total value of $285,228.00.
- On Thursday, October 12th, Chamath Palihapitiya sold 161,863 shares of ProKidney stock. The shares were sold at an average price of $2.69, for a total value of $435,411.47.
- On Monday, October 9th, Chamath Palihapitiya sold 75,000 shares of ProKidney stock. The shares were sold at an average price of $4.20, for a total value of $315,000.00.
- On Thursday, October 5th, Chamath Palihapitiya sold 52,621 shares of ProKidney stock. The shares were sold at an average price of $4.76, for a total value of $250,475.96.
- On Tuesday, September 19th, Chamath Palihapitiya sold 1,700,000 shares of ProKidney stock. The shares were sold at an average price of $5.47, for a total value of $9,299,000.00.
ProKidney Stock Performance
Shares of PROK stock opened at $1.77 on Friday. ProKidney Corp. has a 52-week low of $1.76 and a 52-week high of $14.19. The firm has a market capitalization of $416.18 million, a P/E ratio of -3.28 and a beta of 0.48. The stock has a 50 day moving average price of $6.40 and a 200 day moving average price of $9.41.
Analyst Ratings Changes
Separately, BTIG Research initiated coverage on ProKidney in a research note on Monday, July 24th. They issued a “buy” rating and a $16.00 price objective for the company.
View Our Latest Report on PROK
Institutional Inflows and Outflows
Institutional investors have recently bought and sold shares of the company. Lazard Asset Management LLC purchased a new position in ProKidney during the 2nd quarter worth $31,000. Salem Investment Counselors Inc. increased its holdings in ProKidney by 547.9% during the 2nd quarter. Salem Investment Counselors Inc. now owns 3,000 shares of the company’s stock worth $34,000 after purchasing an additional 2,537 shares during the period. Metropolitan Life Insurance Co NY purchased a new position in ProKidney during the 2nd quarter worth $38,000. Tower Research Capital LLC TRC increased its holdings in ProKidney by 98.5% during the 1st quarter. Tower Research Capital LLC TRC now owns 4,456 shares of the company’s stock worth $50,000 after purchasing an additional 2,211 shares during the period. Finally, Legal & General Group Plc purchased a new position in ProKidney during the 4th quarter worth $57,000. 16.94% of the stock is currently owned by hedge funds and other institutional investors.
About ProKidney
ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture that is in Phase I 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.
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