ProKidney (NASDAQ:PROK) Announces Earnings Results

ProKidney (NASDAQ:PROK) issued its earnings results on Friday. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.12) by ($0.02), FiscalAI reports. The business had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.10 million.

ProKidney Stock Performance

PROK opened at $1.66 on Friday. The company has a market cap of $501.18 million, a PE ratio of -3.19 and a beta of 1.70. The stock has a 50-day moving average of $1.96 and a 200-day moving average of $2.19. ProKidney has a 52-week low of $0.54 and a 52-week high of $7.13.

Analyst Upgrades and Downgrades

PROK has been the topic of a number of recent research reports. Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a research note on Tuesday, April 21st. Jefferies Financial Group upgraded ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Wall Street Zen downgraded ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $7.40.

Hedge Funds Weigh In On ProKidney

Large investors have recently made changes to their positions in the business. Cetera Investment Advisers acquired a new position in shares of ProKidney during the 4th quarter worth about $28,000. AQR Capital Management LLC lifted its position in shares of ProKidney by 106.4% during the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after purchasing an additional 27,098 shares during the last quarter. EntryPoint Capital LLC acquired a new position in shares of ProKidney during the 4th quarter worth about $65,000. Hudson Bay Capital Management LP acquired a new position in shares of ProKidney during the 4th quarter worth about $101,000. Finally, Jefferies Financial Group Inc. acquired a new position in shares of ProKidney during the 3rd quarter worth about $158,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

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.