ProKidney (NASDAQ:PROK) Stock Rating Upgraded by Jefferies Financial Group

ProKidney (NASDAQ:PROK) was upgraded by research analysts at Jefferies Financial Group to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

PROK has been the topic of several other reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a report on Thursday, January 22nd. HC Wainwright started coverage on ProKidney in a report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $7.40.

ProKidney Stock Performance

NASDAQ:PROK opened at $1.95 on Wednesday. The firm’s 50-day moving average is $2.16 and its 200-day moving average is $2.43. ProKidney has a 52-week low of $0.46 and a 52-week high of $7.13. The company has a market cap of $586.62 million, a price-to-earnings ratio of -3.75 and a beta of 1.75.

ProKidney (NASDAQ:PROK) last released its earnings results on Wednesday, March 18th. The company reported ($0.14) earnings per share for the quarter, beating the consensus estimate of ($0.16) by $0.02. The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.00 million. Equities analysts predict that ProKidney will post -0.57 EPS for the current year.

Institutional Trading of ProKidney

Several hedge funds have recently modified their holdings of the company. State Street Corp boosted its stake in ProKidney by 1.1% in the fourth quarter. State Street Corp now owns 480,345 shares of the company’s stock worth $1,076,000 after purchasing an additional 5,388 shares in the last quarter. Squarepoint Ops LLC increased its stake in shares of ProKidney by 2.0% in the fourth quarter. Squarepoint Ops LLC now owns 351,421 shares of the company’s stock valued at $787,000 after buying an additional 6,845 shares in the last quarter. Zullo Investment Group Inc. acquired a new stake in shares of ProKidney in the third quarter valued at $28,000. Cetera Investment Advisers bought a new position in shares of ProKidney in the fourth quarter valued at about $28,000. Finally, ExodusPoint Capital Management LP raised its holdings in shares of ProKidney by 22.8% in the fourth quarter. ExodusPoint Capital Management LP now owns 128,853 shares of the company’s stock valued at $289,000 after buying an additional 23,924 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

ProKidney Company Profile

ProKidney, Inc (NASDAQ: PROK) is a clinical-stage biotechnology company focused on developing cell-based therapies for kidney diseases. The company’s research and development activities center on harnessing human-derived proximal tubule cells to address conditions such as acute kidney injury (AKI) and chronic kidney disease (CKD). By targeting the underlying cellular mechanisms of renal injury and dysfunction, ProKidney aims to offer novel regenerative medicine approaches that go beyond current supportive care options.

ProKidney’s lead programs utilize proprietary methods for isolating and expanding renal epithelial cells to create injectable therapeutic products.