ProKidney (NASDAQ:PROK) Stock Price Up 10.8% – Time to Buy?

ProKidney Corp. (NASDAQ:PROK) traded up 10.8% during trading on Thursday . The stock traded as high as $1.97 and last traded at $2.0950. Approximately 116,901 shares were traded during mid-day trading, a decline of 88% from the average daily volume of 987,148 shares. The stock had previously closed at $1.89.

Analyst Ratings Changes

PROK has been the topic of a number of recent analyst reports. Jefferies Financial Group raised ProKidney to a “strong-buy” rating in a report on Wednesday, March 18th. Weiss Ratings cut ProKidney from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 25th. HC Wainwright reaffirmed a “buy” rating and set a $12.00 target price on shares of ProKidney in a research note on Monday, May 18th. Finally, Wall Street Zen downgraded ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ProKidney presently has an average rating of “Moderate Buy” and an average price target of $9.00.

ProKidney Stock Performance

The stock has a market cap of $608.65 million, a price-to-earnings ratio of -3.80 and a beta of 1.61. The company’s 50 day simple moving average is $1.80 and its 200 day simple moving average is $2.01.

ProKidney (NASDAQ:PROK) last released its quarterly earnings results on Friday, May 15th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.10 million. Sell-side analysts predict that ProKidney Corp. will post -0.49 EPS for the current year.

Institutional Trading of ProKidney

Several institutional investors have recently modified their holdings of PROK. Millennium Management LLC acquired a new position in shares of ProKidney in the 3rd quarter worth $4,734,000. Artia Global Partners LP purchased a new position in ProKidney in the 4th quarter worth about $4,118,000. JPMorgan Chase & Co. increased its stake in ProKidney by 3,024.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock worth $988,000 after purchasing an additional 1,615,243 shares in the last quarter. Renaissance Technologies LLC raised its holdings in ProKidney by 578.6% during the 4th quarter. Renaissance Technologies LLC now owns 895,705 shares of the company’s stock worth $2,006,000 after buying an additional 763,705 shares during the period. Finally, Jane Street Group LLC acquired a new stake in ProKidney during the 2nd quarter worth about $350,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

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.