ProKidney Corp. (NASDAQ:PROK) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of ProKidney Corp. (NASDAQ:PROKGet Free Report) have earned a consensus rating of “Moderate Buy” from the eight ratings firms that are presently covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $7.40.

Several brokerages have recently commented on PROK. HC Wainwright began coverage on shares of ProKidney in a report on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price for the company. Wall Street Zen downgraded shares of ProKidney from a “hold” rating to a “sell” rating in a research report on Saturday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research note on Thursday, January 22nd. Finally, Jefferies Financial Group raised shares of ProKidney to a “strong-buy” rating in a research report on Wednesday.

Check Out Our Latest Stock Report on PROK

ProKidney Trading Down 1.0%

NASDAQ PROK opened at $1.93 on Friday. The business has a fifty day simple moving average of $2.15 and a 200 day simple moving average of $2.42. ProKidney has a 12 month low of $0.46 and a 12 month high of $7.13. The firm has a market capitalization of $580.60 million, a P/E ratio of -3.71 and a beta of 1.75.

ProKidney (NASDAQ:PROKGet Free Report) last posted its quarterly earnings data on Wednesday, March 18th. The company reported ($0.14) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.00 million. As a group, sell-side analysts predict that ProKidney will post -0.57 EPS for the current fiscal year.

ProKidney News Summary

Here are the key news stories impacting ProKidney this week:

Institutional Trading of ProKidney

A number of hedge funds have recently bought and sold shares of the business. Millennium Management LLC purchased a new position in ProKidney in the third quarter worth $4,734,000. Artia Global Partners LP purchased a new stake in shares of ProKidney during the 4th quarter valued at $4,118,000. JPMorgan Chase & Co. increased its position in shares of ProKidney by 3,024.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock valued at $988,000 after purchasing an additional 1,615,243 shares during the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of ProKidney by 63.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company’s stock worth $3,369,000 after purchasing an additional 583,983 shares during the period. Finally, Geode Capital Management LLC raised its stake in shares of ProKidney by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 1,197,530 shares of the company’s stock worth $2,684,000 after purchasing an additional 100,748 shares during the period. 51.59% of the stock is currently owned by institutional investors.

About ProKidney

(Get Free Report)

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.

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Analyst Recommendations for ProKidney (NASDAQ:PROK)

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