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

ProKidney Corp. (NASDAQ:PROK) has earned a consensus recommendation of “Moderate Buy” from the seven research firms that are currently covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation, four have issued a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $9.00.

A number of equities research analysts have recently issued reports on the stock. Weiss Ratings lowered shares of ProKidney from a “sell (d-)” rating to a “sell (e+)” rating in a research note on Thursday, June 25th. Jefferies Financial Group raised ProKidney to a “strong-buy” rating in a report on Wednesday, March 18th. HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of ProKidney in a research note on Monday, May 18th. Finally, Wall Street Zen lowered ProKidney from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th.

Institutional Trading of ProKidney

Institutional investors have recently added to or reduced their stakes in the business. State Street Corp raised its holdings in shares of ProKidney by 1.1% during the fourth quarter. State Street Corp now owns 480,345 shares of the company’s stock worth $1,076,000 after purchasing an additional 5,388 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of ProKidney by 2.0% in the 4th quarter. Squarepoint Ops LLC now owns 351,421 shares of the company’s stock valued at $787,000 after buying an additional 6,845 shares during the period. Cetera Investment Advisers bought a new stake in shares of ProKidney during the 4th quarter valued at about $28,000. R Squared Ltd acquired a new stake in ProKidney during the first quarter worth about $25,000. Finally, SummitTX Capital L.P. acquired a new stake in ProKidney during the first quarter worth about $26,000. Institutional investors own 51.59% of the company’s stock.

ProKidney Stock Down 4.3%

Shares of ProKidney stock traded down $0.09 on Tuesday, hitting $1.91. 526,764 shares of the company’s stock traded hands, compared to its average volume of 996,830. ProKidney has a 52-week low of $1.02 and a 52-week high of $7.13. The stock has a market cap of $575.42 million, a P/E ratio of -3.59 and a beta of 1.61. The firm’s 50-day moving average is $1.80 and its 200 day moving average is $2.01.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.10 million. Equities research analysts forecast that ProKidney will post -0.49 EPS for the current 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.