ProKidney (NASDAQ:PROK) Trading Up 10.8% – Time to Buy?

Shares of ProKidney Corp. (NASDAQ:PROK) rose 10.8% during mid-day trading on Monday . The company traded as high as $3.31 and last traded at $3.29. Approximately 1,888,042 shares traded hands during trading, a decline of 10% from the average daily volume of 2,086,369 shares. The stock had previously closed at $2.97.

Analysts Set New Price Targets

PROK has been the topic of a number of analyst reports. UBS Group boosted their target price on shares of ProKidney from $4.00 to $8.00 and gave the company a “buy” rating in a report on Tuesday, July 15th. Bank of America cut shares of ProKidney from a “neutral” rating to an “underperform” rating and lowered their target price for the company from $3.00 to $1.00 in a report on Monday, June 30th. Zacks Research cut shares of ProKidney from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th. Guggenheim reissued a “buy” rating and set a $7.00 target price (up previously from $6.00) on shares of ProKidney in a report on Monday, July 14th. Finally, Citigroup reissued a “buy” rating and set a $9.00 target price (up previously from $6.00) on shares of ProKidney in a report on Wednesday, July 9th. Three analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.25.

ProKidney Price Performance

The stock has a market cap of $968.19 million, a P/E ratio of -5.77 and a beta of 1.72. The firm’s fifty day moving average price is $2.61 and its two-hundred day moving average price is $1.85.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $0.22 million during the quarter. On average, research analysts expect that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Catalyst Funds Management Pty Ltd bought a new position in ProKidney in the second quarter valued at $36,000. AQR Capital Management LLC increased its stake in ProKidney by 106.4% in the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock valued at $46,000 after acquiring an additional 27,098 shares during the last quarter. Deutsche Bank AG increased its stake in ProKidney by 49.4% in the first quarter. Deutsche Bank AG now owns 86,337 shares of the company’s stock valued at $76,000 after acquiring an additional 28,546 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in ProKidney in the second quarter valued at $208,000. Finally, Bank of New York Mellon Corp increased its stake in ProKidney by 4.3% in the first quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company’s stock valued at $210,000 after acquiring an additional 9,903 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

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.