Hennion & Walsh Asset Management Inc. Has $3.37 Million Holdings in ProKidney Corp. $PROK

Key Points

• Hennion & Walsh Asset Management increased its stake in ProKidney by 63.5% to 1,503,886 shares, valued at about $3.37 million (roughly 0.50% of the company) at the end of the quarter.
• Several institutions have recently built or boosted positions — notably Millennium (new ~$4.73M position) and JPMorgan (a 3,024.9% increase to 1,668,642 shares) — leaving institutional ownership at 51.59%.
• Analyst sentiment is mixed but tilts positive: the consensus is a "Moderate Buy" with an average price target of $7.40; the stock trades near $1.79 (market cap ~$540M) and the company recently reported an EPS of ($0.14), beating estimates of ($0.16).

Hennion & Walsh Asset Management Inc. lifted its stake in shares of ProKidney Corp. (NASDAQ:PROK - Free Report) by 63.5% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,503,886 shares of the company's stock after acquiring an additional 583,983 shares during the period. Hennion & Walsh Asset Management Inc. owned approximately 0.50% of ProKidney worth $3,369,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Millennium Management LLC acquired a new position in ProKidney in the 3rd quarter worth $4,734,000. JPMorgan Chase & Co. raised its stake in shares of ProKidney by 3,024.9% in the 2nd 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 during the period. Jane Street Group LLC bought a new stake in shares of ProKidney in the second quarter valued at about $350,000. Marshall Wace LLP bought a new stake in shares of ProKidney in the second quarter valued at about $274,000. Finally, Squarepoint Ops LLC acquired a new position in shares of ProKidney during the third quarter worth about $834,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PROK. Weiss Ratings reiterated a "sell (d-)" rating on shares of ProKidney in a report on Thursday, January 22nd. Wall Street Zen downgraded ProKidney from a "hold" rating to a "sell" rating in a research report on Saturday, March 21st. Jefferies Financial Group raised shares of ProKidney to a "strong-buy" rating in a research note on Wednesday, March 18th. Finally, HC Wainwright initiated coverage on shares of ProKidney in a report on Tuesday, December 16th. They issued a "buy" rating and a $12.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $7.40.

ProKidney Price Performance

ProKidney stock opened at $1.79 on Wednesday. The company has a market cap of $540.43 million, a price-to-earnings ratio of -3.44 and a beta of 1.75. The firm has a 50-day moving average of $2.08 and a 200-day moving average of $2.40. ProKidney Corp. has a one year low of $0.46 and a one year high of $7.13.

ProKidney (NASDAQ:PROK - Get Free Report) last released its earnings results on Wednesday, March 18th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.16) by $0.02. The company had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.00 million. As a group, sell-side analysts expect that ProKidney Corp. will post -0.57 earnings per share for the current year.

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.

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