ProKidney Corp. (NASDAQ:PROK) Receives $6.25 Consensus Price Target from Analysts

ProKidney Corp. (NASDAQ:PROK) has been assigned an average rating of “Hold” from the six brokerages that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating on 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 recently commented on the stock. Citigroup reaffirmed a “buy” rating and set a $9.00 target price (up from $6.00) on shares of ProKidney in a report on Wednesday, July 9th. Zacks Research lowered shares of ProKidney from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research report on Wednesday, October 8th. Bank of America lowered shares of ProKidney from a “neutral” rating to an “underperform” rating and reduced their price target for the stock from $3.00 to $1.00 in a research report on Monday, June 30th. Finally, Guggenheim reiterated a “buy” rating and set a $7.00 price target (up previously from $6.00) on shares of ProKidney in a research report on Monday, July 14th.

Institutional Trading of ProKidney

Several large investors have recently made changes to their positions in the company. JPMorgan Chase & Co. boosted 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 worth $988,000 after acquiring an additional 1,615,243 shares in the last quarter. Bank of America Corp DE boosted its position in ProKidney by 12.4% in the second quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock valued at $501,000 after buying an additional 93,322 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in ProKidney by 8.7% in the first quarter. Charles Schwab Investment Management Inc. now owns 825,647 shares of the company’s stock valued at $723,000 after buying an additional 65,860 shares in the last quarter. Jane Street Group LLC acquired a new stake in ProKidney in the second quarter valued at approximately $350,000. Finally, Marshall Wace LLP acquired a new stake in ProKidney in the second quarter valued at approximately $274,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

ProKidney Trading Up 0.6%

Shares of PROK opened at $3.22 on Thursday. ProKidney has a 12 month low of $0.46 and a 12 month high of $7.13. The firm’s 50 day moving average is $2.69 and its 200-day moving average is $1.94. The stock has a market capitalization of $947.58 million, a PE ratio of -5.65 and a beta of 1.72.

ProKidney (NASDAQ:PROK) last announced its earnings results on Tuesday, August 12th. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. The business had revenue of $0.22 million for the quarter. Equities research analysts predict that ProKidney will post -0.57 earnings per share for the current fiscal year.

About ProKidney

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.