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

Shares of ProKidney Corp. (NASDAQ:PROK) have been assigned an average recommendation of “Moderate Buy” from the eight ratings firms that are covering the company, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $7.40.

A number of equities analysts have weighed in on the stock. Wall Street Zen downgraded shares of ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday. Jefferies Financial Group raised shares of ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research note on Tuesday, April 21st.

Hedge Funds Weigh In On ProKidney

Institutional investors and hedge funds have recently made changes to their positions in the business. Cetera Investment Advisers bought a new position in shares of ProKidney during the fourth quarter valued at approximately $28,000. R Squared Ltd purchased a new stake in shares of ProKidney during the first quarter valued at approximately $25,000. SummitTX Capital L.P. purchased a new stake in shares of ProKidney during the first quarter valued at approximately $26,000. EntryPoint Capital LLC purchased a new stake in shares of ProKidney during the fourth quarter valued at approximately $65,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of ProKidney during the fourth quarter valued at approximately $101,000. Institutional investors own 51.59% of the company’s stock.

ProKidney Price Performance

PROK stock opened at $1.66 on Monday. ProKidney has a 1 year low of $0.54 and a 1 year high of $7.13. The firm has a 50-day moving average of $1.96 and a 200 day moving average of $2.19. The company has a market cap of $501.18 million, a P/E ratio of -3.19 and a beta of 1.70.

ProKidney (NASDAQ:PROK) last announced its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02). The business had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.10 million. On average, equities research analysts expect that ProKidney will post -0.72 earnings per share for the current fiscal year.

About ProKidney

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.