ProKidney Corp. (NASDAQ:PROK) Given Consensus Rating of "Moderate Buy" by Brokerages

Key Points

• ProKidney has a consensus analyst rating of "Moderate Buy" from eight firms, with an average 12-month price target of $7.40. The ratings are mixed, including two sell calls, one hold, four buys, and one strong buy.
• The stock recently opened at $1.86, well below its 52-week high of $7.13, and the company has a market cap of about $561.6 million. ProKidney also reported a narrower-than-expected quarterly loss, earning ($0.14) EPS versus an expected ($0.16).
• Institutional investors continue to show interest, with firms like JPMorgan Chase, Millennium Management, and Artia Global Partners adding or initiating positions. Institutions now own 51.59% of ProKidney’s shares.

ProKidney Corp. (NASDAQ:PROK - Get Free Report) has been given a consensus rating of "Moderate Buy" by the eight research firms that are presently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $7.40.

A number of equities research analysts recently weighed in on PROK shares. Jefferies Financial Group upgraded ProKidney to a "strong-buy" rating in a research report on Wednesday, March 18th. Wall Street Zen upgraded ProKidney from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 18th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of ProKidney in a research report on Tuesday, April 21st.

ProKidney Stock Performance

Shares of PROK opened at $1.86 on Monday. ProKidney has a 52-week low of $0.54 and a 52-week high of $7.13. The business's fifty day moving average is $2.02 and its 200-day moving average is $2.24. The firm has a market cap of $561.57 million, a price-to-earnings ratio of -3.58 and a beta of 1.70.

ProKidney (NASDAQ:PROK - Get Free Report) last issued its quarterly earnings results on Wednesday, March 18th. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.16) by $0.02. The business had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.00 million. As a group, research analysts forecast that ProKidney will post -0.72 EPS for the current fiscal year.

Institutional Investors Weigh In On ProKidney

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Millennium Management LLC bought a new stake in ProKidney during the 3rd quarter worth $4,734,000. Artia Global Partners LP bought a new stake in ProKidney during the 4th quarter worth $4,118,000. JPMorgan Chase & Co. grew its position 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 during the last quarter. Hennion & Walsh Asset Management Inc. lifted its holdings in ProKidney by 63.5% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company's stock worth $3,369,000 after buying an additional 583,983 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in ProKidney by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 1,197,530 shares of the company's stock worth $2,684,000 after buying an additional 100,748 shares during the period. Institutional investors own 51.59% of the company's stock.

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.

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