Brokerages Set ProKidney Corp. (NASDAQ:PROK) PT at $5.67

ProKidney Corp. (NASDAQ:PROK) has earned an average recommendation of “Hold” from the five analysts that are covering the stock, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating on the company. The average 12 month price objective among brokerages that have issued a report on the stock in the last year is $6.25.

PROK has been the topic of several research analyst reports. UBS Group reaffirmed a “buy” rating and issued a $8.00 price target (up from $4.00) on shares of ProKidney in a research report on Tuesday, July 15th. Guggenheim reaffirmed a “buy” rating and issued a $7.00 price target (up from $6.00) on shares of ProKidney in a research report on Monday, July 14th. Wall Street Zen raised ProKidney from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Bank of America downgraded ProKidney from a “neutral” rating to an “underperform” rating and decreased their target price for the stock from $3.00 to $1.00 in a research report on Monday, June 30th. Finally, Citigroup reissued a “buy” rating and set a $9.00 target price (up from $6.00) on shares of ProKidney in a research report on Wednesday, July 9th.

Insiders Place Their Bets

In other ProKidney news, insider Darin J. Weber sold 103,480 shares of ProKidney stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total transaction of $312,509.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 41.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On ProKidney

Institutional investors and hedge funds have recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its position in ProKidney by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company’s stock worth $210,000 after buying an additional 9,903 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of ProKidney by 1.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 759,787 shares of the company’s stock valued at $1,284,000 after purchasing an additional 10,069 shares during the period. ProShare Advisors LLC raised its holdings in shares of ProKidney by 57.3% in the 4th quarter. ProShare Advisors LLC now owns 30,879 shares of the company’s stock valued at $52,000 after purchasing an additional 11,250 shares during the period. Bank of America Corp DE raised its holdings in ProKidney by 3.2% in the 4th quarter. Bank of America Corp DE now owns 539,232 shares of the company’s stock valued at $911,000 after acquiring an additional 16,538 shares during the period. Finally, Wells Fargo & Company MN raised its holdings in ProKidney by 51.7% in the 4th quarter. Wells Fargo & Company MN now owns 54,098 shares of the company’s stock valued at $91,000 after acquiring an additional 18,431 shares during the period. Institutional investors and hedge funds own 51.59% of the company’s stock.

ProKidney Stock Performance

Shares of NASDAQ PROK opened at $3.22 on Tuesday. The firm has a market cap of $942.49 million, a P/E ratio of -5.37 and a beta of 1.26. The stock has a fifty day moving average price of $1.33 and a two-hundred day moving average price of $1.23. ProKidney has a 1 year low of $0.46 and a 1 year high of $7.13.

ProKidney (NASDAQ:PROK) last released its earnings results on Monday, May 12th. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03. The business had revenue of $0.23 million during the quarter. On average, research analysts predict that ProKidney will post -0.57 earnings per share for the current fiscal year.

ProKidney Company Profile

ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases in the United States. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture, which has completed Phase I clinical trial for REACT in patients with congenital anomalies of the Kidney and Urinary Tract (CAKUT), as well as in Phase III and Phase II clinical trials for the treatment of moderate to severe diabetic kidney disease.