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

Shares of ProKidney Corp. (NASDAQ:PROK) have earned an average recommendation of “Hold” from the seven ratings firms that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $7.40.

A number of research firms recently weighed in on PROK. HC Wainwright began coverage on shares of ProKidney in a research note on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research note on Wednesday, October 8th.

Insider Transactions at ProKidney

In other news, Director Brian Jg Pereira sold 502,136 shares of the business’s stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $2.37, for a total value of $1,190,062.32. The sale was disclosed in a filing with the SEC, which is available at this link. 41.49% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On ProKidney

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PROK. Zullo Investment Group Inc. acquired a new stake in shares of ProKidney during the third quarter worth approximately $28,000. Catalyst Funds Management Pty Ltd bought a new stake in ProKidney during the 2nd quarter worth approximately $36,000. AQR Capital Management LLC increased its holdings in ProKidney by 106.4% during the 1st 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 in the last quarter. Jefferies Financial Group Inc. bought a new position in ProKidney in the 3rd quarter valued at $158,000. Finally, Virtu Financial LLC acquired a new position in ProKidney in the third quarter worth $203,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

ProKidney Trading Down 0.8%

PROK opened at $2.34 on Tuesday. The stock’s 50 day simple moving average is $2.37 and its 200-day simple moving average is $2.55. The stock has a market cap of $703.95 million, a PE ratio of -4.25 and a beta of 1.79. ProKidney has a 1 year low of $0.46 and a 1 year high of $7.13.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Monday, November 10th. The company reported ($0.12) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.12). The business had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.04 million. Equities analysts forecast that ProKidney will post -0.57 earnings per share for the current fiscal year.

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.