ProKidney (NASDAQ:PROK) Earns Buy Rating from Guggenheim

ProKidney (NASDAQ:PROK - Get Free Report)'s stock had its "buy" rating reissued by investment analysts at Guggenheim in a report released on Monday, Marketbeat reports. They presently have a $7.00 price objective on the stock, up from their prior price objective of $6.00. Guggenheim's price objective indicates a potential upside of 94.34% from the company's current price.

Several other research analysts have also recently issued reports on PROK. Wall Street Zen raised ProKidney from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Bank of America cut ProKidney from a "neutral" rating to an "underperform" rating and lowered their price objective for the stock from $3.00 to $1.00 in a research report on Monday, June 30th. Finally, Citigroup reaffirmed a "buy" rating and set a $9.00 price objective (up from $6.00) on shares of ProKidney in a research report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat, ProKidney currently has a consensus rating of "Hold" and a consensus target price of $6.25.

ProKidney Price Performance

Shares of PROK stock traded down $0.13 on Monday, hitting $3.60. The stock had a trading volume of 5,261,116 shares, compared to its average volume of 3,560,351. The company's 50 day moving average price is $1.22 and its 200-day moving average price is $1.22. ProKidney has a 1 year low of $0.46 and a 1 year high of $7.13. The firm has a market capitalization of $1.05 billion, a P/E ratio of -6.01 and a beta of 1.26.

ProKidney (NASDAQ:PROK - Get Free Report) last issued its quarterly earnings results on Monday, May 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.03. The company had revenue of $0.23 million for the quarter. On average, equities analysts forecast that ProKidney will post -0.57 EPS for the current year.

Insider Transactions at ProKidney

In other ProKidney news, insider Darin J. Weber sold 103,480 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $3.02, for a total transaction of $312,509.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Control Empresarial De Capital acquired 387,393 shares of ProKidney stock in a transaction on Tuesday, April 22nd. The shares were bought at an average cost of $0.71 per share, with a total value of $275,049.03. Following the completion of the purchase, the insider owned 73,842,723 shares in the company, valued at $52,428,333.33. The trade was a 0.53% increase in their ownership of the stock. The disclosure for this purchase can be found here. 41.49% of the stock is owned by corporate insiders.

Institutional Trading of ProKidney

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. ProShare Advisors LLC raised its stake in ProKidney by 57.3% during the 4th quarter. ProShare Advisors LLC now owns 30,879 shares of the company's stock valued at $52,000 after acquiring an additional 11,250 shares during the last quarter. Sei Investments Co. purchased a new stake in ProKidney during the 4th quarter valued at approximately $69,000. Susquehanna Fundamental Investments LLC purchased a new stake in ProKidney during the 4th quarter valued at approximately $88,000. AQR Capital Management LLC raised its stake in ProKidney by 106.4% during the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock valued at $46,000 after acquiring an additional 27,098 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of ProKidney by 51.7% during the 4th quarter. Wells Fargo & Company MN now owns 54,098 shares of the company's stock worth $91,000 after buying an additional 18,431 shares in the last quarter. 51.59% of the stock is owned by hedge funds and other institutional investors.

About ProKidney

ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases in the United States. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture, which has completed Phase I clinical trial for REACT in patients with congenital anomalies of the Kidney and Urinary Tract (CAKUT), as well as in Phase III and Phase II clinical trials for the treatment of moderate to severe diabetic kidney disease.