29,698 Shares in ProKidney Corp. (NASDAQ:PROK) Acquired by American International Group Inc.

American International Group Inc. bought a new stake in ProKidney Corp. (NASDAQ:PROK) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 29,698 shares of the company’s stock, valued at approximately $332,000.

Other large investors have also recently bought and sold shares of the company. Salem Investment Counselors Inc. increased its stake in ProKidney by 547.9% in the second quarter. Salem Investment Counselors Inc. now owns 3,000 shares of the company’s stock valued at $34,000 after purchasing an additional 2,537 shares in the last quarter. Tower Research Capital LLC TRC increased its stake in ProKidney by 98.5% in the first quarter. Tower Research Capital LLC TRC now owns 4,456 shares of the company’s stock valued at $50,000 after purchasing an additional 2,211 shares in the last quarter. UBS Group AG increased its stake in ProKidney by 97.5% in the first quarter. UBS Group AG now owns 5,209 shares of the company’s stock valued at $59,000 after purchasing an additional 2,571 shares in the last quarter. Legal & General Group Plc bought a new stake in ProKidney in the fourth quarter valued at approximately $57,000. Finally, Strs Ohio bought a new stake in ProKidney in the second quarter valued at approximately $143,000. Institutional investors own 16.94% of the company’s stock.

Insider Activity

In related news, major shareholder Chamath Palihapitiya sold 258,400 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $1.19, for a total transaction of $307,496.00. Following the completion of the transaction, the insider now owns 5,183,367 shares in the company, valued at $6,168,206.73. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold 4,019,940 shares of company stock worth $13,873,181 over the last quarter. 44.99% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Separately, BTIG Research started coverage on shares of ProKidney in a research note on Monday, July 24th. They issued a “buy” rating and a $16.00 target price for the company.

ProKidney Stock Down 1.6 %

ProKidney stock opened at $1.21 on Monday. The stock has a market capitalization of $284.51 million, a PE ratio of -2.05 and a beta of 0.75. ProKidney Corp. has a twelve month low of $1.12 and a twelve month high of $14.19. The company has a 50 day moving average of $3.37 and a 200-day moving average of $8.10.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Tuesday, November 14th. The company reported ($0.18) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.02). Equities analysts anticipate that ProKidney Corp. will post -0.66 EPS for the current fiscal year.

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.