HC Wainwright Initiates Coverage on ProKidney (NASDAQ:PROK)

Investment analysts at HC Wainwright initiated coverage on shares of ProKidney (NASDAQ:PROK) in a report issued on Tuesday, Marketbeat reports. The firm set a “buy” rating and a $12.00 price target on the stock. HC Wainwright’s target price suggests a potential upside of 410.64% from the company’s current price.

Several other equities research analysts have also recently issued reports on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research note on Wednesday, October 8th. Zacks Research lowered shares of ProKidney from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Four research analysts have rated the stock with a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, ProKidney presently has a consensus rating of “Hold” and a consensus price target of $7.40.

ProKidney Stock Performance

Shares of NASDAQ:PROK opened at $2.35 on Tuesday. ProKidney has a one year low of $0.46 and a one year high of $7.13. The stock has a market cap of $706.95 million, a PE ratio of -4.27 and a beta of 1.79. The business’s fifty day moving average price is $2.63 and its two-hundred day moving average price is $2.37.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings data on Monday, November 10th. The company reported ($0.12) EPS for the quarter, meeting analysts’ consensus estimates of ($0.12). The company had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.04 million. As a group, equities research analysts predict that ProKidney will post -0.57 earnings per share for the current fiscal year.

Insider Transactions at ProKidney

In related news, Director Brian Jg Pereira sold 502,136 shares of the company’s stock in a transaction that occurred on Thursday, November 13th. The shares were sold at an average price of $2.37, for a total transaction of $1,190,062.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 41.49% of the company’s stock.

Institutional Trading of ProKidney

Institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of ProKidney by 8.7% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 825,647 shares of the company’s stock worth $723,000 after buying an additional 65,860 shares during the last quarter. Deutsche Bank AG increased its stake in ProKidney by 49.4% during the first quarter. Deutsche Bank AG now owns 86,337 shares of the company’s stock worth $76,000 after acquiring an additional 28,546 shares during the last quarter. Nuveen LLC purchased a new position in shares of ProKidney in the 1st quarter worth about $233,000. AQR Capital Management LLC lifted its stake in shares of ProKidney by 106.4% in the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock valued at $46,000 after purchasing an additional 27,098 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new position in shares of ProKidney in the 2nd quarter valued at about $208,000. 51.59% of the stock is 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 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.