ProKidney (NASDAQ:PROK) Cut to Sell at Wall Street Zen

ProKidney (NASDAQ:PROK) was downgraded by stock analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued on Saturday.

Several other research firms have also issued reports on PROK. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a report on Thursday, January 22nd. HC Wainwright initiated coverage on shares of ProKidney in a report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price target on the stock. Finally, Jefferies Financial Group raised shares of ProKidney to a “strong-buy” rating in a research note on Wednesday. One 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 given a Sell rating to the company. 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 $1.93 on Friday. The business’s fifty day moving average is $2.15 and its 200 day moving average is $2.42. ProKidney has a fifty-two week low of $0.46 and a fifty-two week high of $7.13. The company has a market capitalization of $580.60 million, a PE ratio of -3.71 and a beta of 1.75.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings results on Wednesday, March 18th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.00 million. On average, sell-side analysts forecast that ProKidney will post -0.57 EPS for the current year.

Institutional Trading of ProKidney

Several institutional investors and hedge funds have recently added to or reduced their stakes in PROK. Millennium Management LLC bought a new position in ProKidney in the 3rd quarter worth approximately $4,734,000. Artia Global Partners LP purchased a new stake in ProKidney during the 4th quarter valued at approximately $4,118,000. JPMorgan Chase & Co. raised its position in shares of 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 buying an additional 1,615,243 shares during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of ProKidney by 63.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company’s stock worth $3,369,000 after buying an additional 583,983 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of ProKidney by 9.2% in the fourth quarter. Geode Capital Management LLC now owns 1,197,530 shares of the company’s stock worth $2,684,000 after buying an additional 100,748 shares in the last quarter. Institutional investors own 51.59% of the company’s stock.

About ProKidney

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.