Shares of ProKidney Corp. (NASDAQ:PROK – Get Free Report) have received a consensus rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $6.25.
Several brokerages have commented on PROK. Guggenheim reissued a “buy” rating and issued a $7.00 price target (up from $6.00) on shares of ProKidney in a report on Monday, July 14th. Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a research note on Wednesday, October 8th. Bank of America downgraded ProKidney from a “neutral” rating to an “underperform” rating and dropped their price target for the company from $3.00 to $1.00 in a research report on Monday, June 30th. Citigroup restated a “buy” rating and issued a $9.00 price objective (up from $6.00) on shares of ProKidney in a research report on Wednesday, July 9th. Finally, Zacks Research lowered shares of ProKidney from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th.
Check Out Our Latest Stock Report on PROK
ProKidney Stock Down 4.2%
ProKidney (NASDAQ:PROK – Get Free Report) last announced its quarterly earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $0.22 million during the quarter. On average, sell-side analysts expect that ProKidney will post -0.57 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its stake in ProKidney by 12.4% during the second quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock worth $501,000 after purchasing an additional 93,322 shares during the last quarter. Jane Street Group LLC purchased a new stake in ProKidney in the second quarter worth approximately $350,000. Marshall Wace LLP bought a new position in ProKidney during the second quarter valued at approximately $274,000. JPMorgan Chase & Co. grew its position in ProKidney by 3,024.9% during the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock valued at $988,000 after acquiring an additional 1,615,243 shares during the last quarter. Finally, Catalyst Funds Management Pty Ltd purchased a new position in shares of ProKidney during the second quarter worth approximately $36,000. Institutional investors own 51.59% of the company’s stock.
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.
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