Analysts Set ProKidney Corp. (NASDAQ:PROK) PT at $6.25

Shares of ProKidney Corp. (NASDAQ:PROK) have received a consensus recommendation of “Hold” from the six brokerages that are covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $6.25.

Several research analysts have weighed in on PROK shares. Citigroup reaffirmed a “buy” rating and set a $9.00 price target (up previously from $6.00) on shares of ProKidney in a research report on Wednesday, July 9th. UBS Group increased their price target on shares of ProKidney from $4.00 to $8.00 and gave the company a “buy” rating in a research note on Tuesday, July 15th. Wall Street Zen raised shares of ProKidney from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Bank of America lowered shares of ProKidney from a “neutral” rating to an “underperform” rating and lowered their price objective for the stock from $3.00 to $1.00 in a research note on Monday, June 30th. Finally, Guggenheim reiterated a “buy” rating and issued a $7.00 target price (up from $6.00) on shares of ProKidney in a research note on Monday, July 14th.

Insider Activity at ProKidney

In other ProKidney news, insider Darin J. Weber sold 103,480 shares of the business’s stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total value of $312,509.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 41.49% of the company’s stock.

Hedge Funds Weigh In On ProKidney

Hedge funds and other institutional investors have recently modified their holdings of the business. Bank of New York Mellon Corp lifted its holdings in ProKidney by 4.3% during the first quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company’s stock worth $210,000 after acquiring an additional 9,903 shares during the period. ProShare Advisors LLC increased its position in shares of ProKidney by 57.3% during the 4th quarter. ProShare Advisors LLC now owns 30,879 shares of the company’s stock valued at $52,000 after purchasing an additional 11,250 shares during the last quarter. Bank of America Corp DE grew its position in ProKidney by 3.2% during the fourth quarter. Bank of America Corp DE now owns 539,232 shares of the company’s stock valued at $911,000 after buying an additional 16,538 shares during the period. Wells Fargo & Company MN raised its position in ProKidney by 51.7% in the fourth quarter. Wells Fargo & Company MN now owns 54,098 shares of the company’s stock worth $91,000 after acquiring an additional 18,431 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of ProKidney by 41.8% during the 4th quarter. JPMorgan Chase & Co. now owns 66,415 shares of the company’s stock valued at $112,000 after acquiring an additional 19,585 shares during the period. Institutional investors own 51.59% of the company’s stock.

ProKidney Price Performance

NASDAQ:PROK opened at $2.21 on Wednesday. The business’s 50-day simple moving average is $2.68 and its 200-day simple moving average is $1.48. ProKidney has a fifty-two week low of $0.46 and a fifty-two week high of $7.13. The stock has a market capitalization of $650.36 million, a PE ratio of -3.88 and a beta of 1.74.

ProKidney (NASDAQ:PROK) last announced its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The company had revenue of $0.22 million during the quarter. On average, research analysts expect that ProKidney will post -0.57 earnings per share for the current year.

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.