Brokerages Set ProKidney Corp. (NASDAQ:PROK) Target Price at $7.40

Shares of ProKidney Corp. (NASDAQ:PROK) have earned a consensus recommendation of “Moderate Buy” from the eight brokerages that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $7.40.

Several equities research analysts have recently issued reports on the stock. Wall Street Zen raised shares of ProKidney from a “strong sell” rating to a “sell” rating in a research note on Saturday. Weiss Ratings reissued 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 note on Wednesday, March 18th.

Institutional Investors Weigh In On ProKidney

Several hedge funds have recently modified their holdings of PROK. Cetera Investment Advisers purchased a new stake in shares of ProKidney during the 4th quarter worth about $28,000. Zullo Investment Group Inc. purchased a new stake in shares of ProKidney during the 3rd quarter worth about $28,000. AQR Capital Management LLC boosted its stake in shares of ProKidney by 106.4% during the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after acquiring an additional 27,098 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in shares of ProKidney during the 4th quarter worth about $65,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of ProKidney during the 4th quarter worth about $101,000. 51.59% of the stock is owned by hedge funds and other institutional investors.

ProKidney Stock Performance

NASDAQ:PROK opened at $2.18 on Thursday. ProKidney has a one year low of $0.54 and a one year high of $7.13. The firm has a market cap of $658.18 million, a price-to-earnings ratio of -4.19 and a beta of 1.84. The firm’s fifty day moving average is $2.05 and its two-hundred day moving average is $2.33.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Wednesday, March 18th. The company reported ($0.14) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.00 million. As a group, equities research analysts predict that ProKidney will post -0.57 earnings per share for the current fiscal year.

ProKidney Company Profile

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.