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

Shares of ProKidney Corp. (NASDAQ:PROK) have been given an average rating of “Moderate Buy” by the eight brokerages that are currently covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.40.

Several equities analysts have recently commented on the stock. Wall Street Zen cut shares of ProKidney from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. HC Wainwright restated a “buy” rating and set a $12.00 price target on shares of ProKidney in a report on Monday, May 18th. Jefferies Financial Group upgraded shares of ProKidney to a “strong-buy” rating in a report on Wednesday, March 18th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a report on Tuesday, April 21st.

Institutional Investors Weigh In On ProKidney

Institutional investors and hedge funds have recently modified their holdings of the business. Cetera Investment Advisers acquired a new stake in shares of ProKidney in the 4th quarter valued at $28,000. R Squared Ltd acquired a new stake in shares of ProKidney in the 1st quarter valued at $25,000. SummitTX Capital L.P. acquired a new stake in shares of ProKidney in the 1st quarter valued at $26,000. EntryPoint Capital LLC acquired a new stake in shares of ProKidney in the 4th quarter valued at $65,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of ProKidney in the 4th quarter valued at $101,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

ProKidney Trading Down 2.3%

Shares of PROK stock opened at $1.67 on Friday. ProKidney has a 1-year low of $0.54 and a 1-year high of $7.13. The company has a market capitalization of $504.44 million, a price-to-earnings ratio of -3.15 and a beta of 1.64. The stock’s fifty day simple moving average is $1.84 and its 200-day simple moving average is $2.06.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings results on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The firm had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.10 million. On average, sell-side analysts predict 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.