ProKidney Corp. (NASDAQ:PROK) Given Consensus Recommendation of "Hold" by Analysts

Key Points

• ProKidney Corp. has received an average analyst recommendation of "Hold", with varied ratings including one sell, two holds, and three buy recommendations.
• The average 12-month price target for ProKidney shares is set at $6.25, with recent upgrades from brokerages raising prices up to $9.00.
• Insider trading activity showed that Darin J. Weber sold over 103,000 shares at an average price of $3.02, while institutional investors own approximately 51.59% of the company's stock.

Shares of ProKidney Corp. (NASDAQ:PROK - Get Free Report) have earned an average recommendation of "Hold" from the six brokerages that are currently covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $6.25.

Several brokerages recently commented on PROK. Guggenheim reissued a "buy" rating and set a $7.00 price objective (up from $6.00) on shares of ProKidney in a research report on Monday, July 14th. Citigroup reissued 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. Bank of America downgraded shares of ProKidney from a "neutral" rating to an "underperform" rating and cut their price objective for the company from $3.00 to $1.00 in a research report on Monday, June 30th. UBS Group increased their price objective on shares of ProKidney from $4.00 to $8.00 and gave the company a "buy" rating in a research report on Tuesday, July 15th. Finally, Zacks Research downgraded shares of ProKidney from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 18th.

ProKidney Price Performance

NASDAQ:PROK opened at $2.49 on Friday. The firm's 50-day moving average price is $2.60 and its 200-day moving average price is $1.62. The company has a market capitalization of $732.76 million, a PE ratio of -4.37 and a beta of 1.74. ProKidney has a 1-year low of $0.46 and a 1-year high of $7.13.

ProKidney (NASDAQ:PROK - Get Free Report) last released its earnings results on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01. The business had revenue of $0.22 million during the quarter. Equities analysts anticipate that ProKidney will post -0.57 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Darin J. Weber sold 103,480 shares of the stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total transaction of $312,509.60. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 41.49% of the company's stock.

Hedge Funds Weigh In On ProKidney

Several hedge funds and other institutional investors have recently bought and sold shares of PROK. JPMorgan Chase & Co. lifted its stake in ProKidney by 3,024.9% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company's stock valued at $988,000 after acquiring an additional 1,615,243 shares during the period. Jane Street Group LLC bought a new position in ProKidney during the 2nd quarter valued at about $350,000. Marshall Wace LLP bought a new position in ProKidney during the 2nd quarter valued at about $274,000. Y Intercept Hong Kong Ltd bought a new position in ProKidney during the 2nd quarter valued at about $208,000. Finally, Hennion & Walsh Asset Management Inc. lifted its stake in ProKidney by 48.5% during the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 844,277 shares of the company's stock valued at $740,000 after acquiring an additional 275,630 shares during the period. Institutional investors own 51.59% of the company's stock.

ProKidney Company Profile

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.

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