ProKidney (NASDAQ:PROK) Issues Earnings Results, Misses Estimates By $0.01 EPS

ProKidney (NASDAQ:PROK) announced its quarterly earnings data on Friday. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01), FiscalAI reports. The company had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.10 million.

ProKidney Stock Performance

Shares of ProKidney stock traded down $0.05 on Friday, reaching $1.66. 883,984 shares of the company’s stock were exchanged, compared to its average volume of 889,132. The company has a market capitalization of $501.19 million, a P/E ratio of -3.19 and a beta of 1.70. ProKidney has a 52 week low of $0.54 and a 52 week high of $7.13. The firm’s 50-day moving average is $1.97 and its two-hundred day moving average is $2.19.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. Jefferies Financial Group raised ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a research note on Tuesday, April 21st. Finally, Wall Street Zen raised shares of ProKidney from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 18th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $7.40.

Hedge Funds Weigh In On ProKidney

A number of institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers acquired a new position in shares of ProKidney during the fourth quarter valued at about $28,000. EntryPoint Capital LLC acquired a new position in shares of ProKidney during the fourth quarter valued at about $65,000. Hudson Bay Capital Management LP acquired a new position in shares of ProKidney during the fourth quarter valued at about $101,000. AQR Capital Management LLC raised its holdings in shares of ProKidney by 106.4% during the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock valued at $46,000 after purchasing an additional 27,098 shares during the period. Finally, Jefferies Financial Group Inc. bought a new stake in shares of ProKidney during the third quarter valued at approximately $158,000. 51.59% of the stock is currently owned by institutional investors.

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.