ProKidney (NASDAQ:PROK) Trading Down 0.7% – What’s Next?

ProKidney Corp. (NASDAQ:PROK) shares dropped 0.7% on Thursday . The company traded as low as $1.48 and last traded at $1.52. Approximately 790,961 shares changed hands during trading, a decline of 53% from the average session volume of 1,675,586 shares. The stock had previously closed at $1.53.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PROK. Weiss Ratings upgraded shares of ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Friday, July 10th. Wall Street Zen lowered shares of ProKidney from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright reissued a “buy” rating and issued a $12.00 price objective on shares of ProKidney in a research note on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.00.

ProKidney Stock Down 0.7%

The company has a market cap of $459.13 million, a price-to-earnings ratio of -2.87 and a beta of 1.61. The firm has a 50 day moving average price of $1.75 and a two-hundred day moving average price of $1.94.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.10 million. On average, equities analysts expect that ProKidney Corp. will post -0.49 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in PROK. Cetera Investment Advisers acquired a new position in shares of ProKidney in the 4th quarter worth approximately $28,000. R Squared Ltd acquired a new stake in shares of ProKidney during the first quarter worth $25,000. SummitTX Capital L.P. bought a new position in ProKidney during the first quarter worth $26,000. FNY Investment Advisers LLC raised its stake in ProKidney by 2,000.0% during the second quarter. FNY Investment Advisers LLC now owns 21,000 shares of the company’s stock worth $42,000 after buying an additional 20,000 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in ProKidney during the fourth quarter worth $65,000. 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.