ProKidney Corp. (NASDAQ:PROK) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of ProKidney Corp. (NASDAQ:PROK) have been given an average recommendation of “Moderate Buy” by the seven research firms that are currently covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, one has given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 1 year target price among brokerages that have updated their coverage on the stock in the last year is $9.00.

A number of research analysts recently issued reports on PROK shares. Weiss Ratings downgraded ProKidney from a “sell (d-)” rating to a “sell (e+)” rating in a report on Thursday. Jefferies Financial Group upgraded ProKidney to a “strong-buy” rating in a report on Wednesday, March 18th. Wall Street Zen downgraded ProKidney from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright reiterated a “buy” rating and set a $12.00 price objective on shares of ProKidney in a report on Monday, May 18th.

ProKidney Stock Performance

NASDAQ:PROK opened at $1.89 on Tuesday. The company has a market cap of $570.89 million, a PE ratio of -3.57 and a beta of 1.65. ProKidney has a 52-week low of $0.54 and a 52-week high of $7.13. The stock has a 50-day simple moving average of $1.81 and a 200 day simple moving average of $2.02.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share (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 analyst estimates of $0.10 million. On average, research analysts predict that ProKidney will post -0.49 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Millennium Management LLC bought a new position in ProKidney in the third quarter valued at approximately $4,734,000. Artia Global Partners LP bought a new position in ProKidney in the fourth quarter valued at approximately $4,118,000. JPMorgan Chase & Co. grew its stake in ProKidney by 3,024.9% in the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock valued at $988,000 after purchasing an additional 1,615,243 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in ProKidney by 63.5% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company’s stock valued at $3,369,000 after purchasing an additional 583,983 shares in the last quarter. Finally, Renaissance Technologies LLC grew its stake in ProKidney by 39.6% in the first quarter. Renaissance Technologies LLC now owns 1,250,794 shares of the company’s stock valued at $2,239,000 after purchasing an additional 355,089 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors.

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.