ProKidney (NASDAQ:PROK) Releases Quarterly Earnings Results, Meets Expectations

ProKidney (NASDAQ:PROK) released its quarterly earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14), Zacks reports.

ProKidney Trading Up 1.0 %

Shares of PROK stock opened at $2.07 on Thursday. ProKidney has a twelve month low of $1.12 and a twelve month high of $4.44. The company has a market capitalization of $599.62 million, a price-to-earnings ratio of -3.76 and a beta of 1.11. The firm has a 50-day moving average price of $1.96 and a 200 day moving average price of $2.39.

Analyst Upgrades and Downgrades

A number of analysts have commented on PROK shares. JPMorgan Chase & Co. initiated coverage on ProKidney in a research report on Monday, September 30th. They set a “neutral” rating on the stock. Guggenheim assumed coverage on shares of ProKidney in a report on Tuesday, September 10th. They set a “buy” rating and a $6.00 target price for the company. Finally, Bank of America lowered their price target on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $4.50.

Insiders Place Their Bets

In other news, insider Darin J. Weber sold 16,412 shares of the business’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total value of $41,030.00. Following the completion of the transaction, the insider now owns 103,480 shares of the company’s stock, valued at $258,700. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 41.49% of the stock is owned by corporate insiders.

ProKidney Company Profile

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.