ProKidney (NASDAQ:PROK) Stock Price Down 5.3% – Should You Sell?

ProKidney Corp. (NASDAQ:PROK) dropped 5.3% on Monday . The stock traded as low as $1.70 and last traded at $1.7050. Approximately 403,644 shares traded hands during mid-day trading, a decline of 56% from the average daily volume of 913,568 shares. The stock had previously closed at $1.80.

Analyst Upgrades and Downgrades

PROK has been the subject of several research reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research note on Tuesday, April 21st. Jefferies Financial Group upgraded shares of ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. HC Wainwright reiterated a “buy” rating and issued a $12.00 target price on shares of ProKidney in a research note on Monday, May 18th. Finally, Wall Street Zen cut shares of ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. One equities research 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 assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $7.40.

ProKidney Price Performance

The stock has a market cap of $515.31 million, a P/E ratio of -3.24 and a beta of 1.65. The business’s 50 day simple moving average is $1.84 and its 200 day simple moving average is $2.07.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings results on Friday, May 15th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The business had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.10 million. Research analysts predict that ProKidney Corp. will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers bought a new position in ProKidney during the fourth quarter worth about $28,000. R Squared Ltd acquired a new stake in shares of ProKidney during the first quarter worth approximately $25,000. SummitTX Capital L.P. acquired a new stake in shares of ProKidney during the first quarter worth approximately $26,000. EntryPoint Capital LLC acquired a new stake in shares of ProKidney during the fourth quarter worth approximately $65,000. Finally, Hudson Bay Capital Management LP acquired a new stake in shares of ProKidney during the fourth quarter worth approximately $101,000. Institutional investors 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.