ProKidney Corp. (NASDAQ:PROK) Receives $5.67 Consensus Target Price from Analysts

Shares of ProKidney Corp. (NASDAQ:PROK) have earned a consensus recommendation of “Hold” from the five brokerages that are currently covering the stock, MarketBeat reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.25.

Several brokerages recently issued reports on PROK. Citigroup restated a “buy” rating and set a $9.00 price objective (up from $6.00) on shares of ProKidney in a research note on Wednesday, July 9th. Wall Street Zen upgraded ProKidney from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Guggenheim restated a “buy” rating and set a $7.00 price objective (up from $6.00) on shares of ProKidney in a research report on Monday. UBS Group reiterated a “buy” rating and set a $8.00 price target (up from $4.00) on shares of ProKidney in a report on Tuesday. Finally, Bank of America downgraded ProKidney from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $3.00 to $1.00 in a research note on Monday, June 30th.

Insider Transactions at ProKidney

In related news, insider Control Empresarial De Capital acquired 387,393 shares of the company’s stock in a transaction that occurred on Tuesday, April 22nd. The stock was acquired at an average price of $0.71 per share, for a total transaction of $275,049.03. Following the completion of the acquisition, the insider owned 73,842,723 shares of the company’s stock, valued at $52,428,333.33. This trade represents a 0.53% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Darin J. Weber sold 103,480 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $3.02, for a total value of $312,509.60. The disclosure for this sale can be found here. Corporate insiders own 41.49% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its stake in shares of ProKidney by 20.6% during the fourth quarter. Bank of New York Mellon Corp now owns 229,770 shares of the company’s stock worth $388,000 after purchasing an additional 39,275 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of ProKidney by 1.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 759,787 shares of the company’s stock valued at $1,284,000 after acquiring an additional 10,069 shares in the last quarter. Sei Investments Co. acquired a new position in ProKidney during the 4th quarter worth about $69,000. JPMorgan Chase & Co. lifted its stake in shares of ProKidney by 41.8% in the 4th quarter. JPMorgan Chase & Co. now owns 66,415 shares of the company’s stock valued at $112,000 after purchasing an additional 19,585 shares during the period. Finally, Geode Capital Management LLC lifted its stake in shares of ProKidney by 1.3% in the 4th quarter. Geode Capital Management LLC now owns 2,231,930 shares of the company’s stock valued at $3,773,000 after purchasing an additional 27,996 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

ProKidney Trading Down 5.6%

Shares of PROK stock opened at $3.52 on Tuesday. ProKidney has a twelve month low of $0.46 and a twelve month high of $7.13. The firm has a 50-day moving average price of $1.28 and a 200 day moving average price of $1.23. The company has a market capitalization of $1.03 billion, a price-to-earnings ratio of -5.87 and a beta of 1.26.

ProKidney (NASDAQ:PROK) last issued its earnings results on Monday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.03. The firm had revenue of $0.23 million for the quarter. As a group, research analysts predict that ProKidney will post -0.57 earnings per share for the current year.

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.