ProKidney (NASDAQ:PROK) Stock Rating Lowered by Wall Street Zen

ProKidney (NASDAQ:PROK) was downgraded by analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a report released on Saturday.

PROK has been the topic of a number of other research reports. Jefferies Financial Group raised ProKidney to a “strong-buy” rating in a research note on Wednesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research report on Thursday, January 22nd. Finally, HC Wainwright started coverage on shares of ProKidney in a report on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $7.40.

ProKidney Stock Down 1.0%

Shares of ProKidney stock opened at $1.93 on Friday. The firm has a market cap of $580.60 million, a price-to-earnings ratio of -3.71 and a beta of 1.75. The business has a 50-day moving average price of $2.15 and a 200-day moving average price of $2.42. ProKidney has a twelve month low of $0.46 and a twelve month high of $7.13.

ProKidney (NASDAQ:PROK) last posted its earnings results on Wednesday, March 18th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.00 million. On average, equities analysts expect that ProKidney will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On ProKidney

Several institutional investors have recently made changes to their positions in PROK. Millennium Management LLC bought a new stake in ProKidney in the third quarter worth about $4,734,000. Artia Global Partners LP purchased a new stake in shares of ProKidney in the 4th quarter worth $4,118,000. JPMorgan Chase & Co. grew its holdings in ProKidney by 3,024.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock worth $988,000 after acquiring an additional 1,615,243 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of ProKidney by 578.6% during the fourth quarter. Renaissance Technologies LLC now owns 895,705 shares of the company’s stock valued at $2,006,000 after purchasing an additional 763,705 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in ProKidney during the 2nd quarter valued at $350,000. Institutional investors own 51.59% of the company’s stock.

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.