ProKidney Corp. (NASDAQ:PROK) Receives Average Rating of "Hold" from Brokerages

ProKidney Corp. (NASDAQ:PROK - Get Free Report) has received a consensus recommendation of "Hold" from the five ratings firms that are covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have given a buy recommendation to the company. The average 12-month target price among analysts that have issued ratings on the stock in the last year is $6.25.

PROK has been the subject of a number of research reports. Wall Street Zen upgraded shares of ProKidney from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Citigroup reissued a "buy" rating and set a $9.00 price objective (up from $6.00) on shares of ProKidney in a research note on Wednesday, July 9th. UBS Group reaffirmed a "buy" rating and issued a $8.00 target price (up from $4.00) on shares of ProKidney in a research note on Tuesday. Guggenheim reaffirmed a "buy" rating and issued a $7.00 target price (up from $6.00) on shares of ProKidney in a research note on Monday. Finally, Bank of America lowered shares of ProKidney from a "neutral" rating to an "underperform" rating and decreased their price target for the company from $3.00 to $1.00 in a report on Monday, June 30th.

ProKidney Trading Down 1.2%

Shares of PROK traded down $0.04 during mid-day trading on Tuesday, hitting $3.69. The company's stock had a trading volume of 4,289,916 shares, compared to its average volume of 3,557,147. The firm has a 50-day simple moving average of $1.22 and a 200 day simple moving average of $1.22. The firm has a market capitalization of $1.08 billion, a P/E ratio of -6.16 and a beta of 1.26. ProKidney has a 1-year low of $0.46 and a 1-year high of $7.13.

ProKidney (NASDAQ:PROK - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.16) by $0.03. The business had revenue of $0.23 million during the quarter. As a group, sell-side analysts predict that ProKidney will post -0.57 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Control Empresarial De Capital acquired 387,393 shares of the business's stock in a transaction on Tuesday, April 22nd. The shares were purchased at an average price of $0.71 per share, for a total transaction of $275,049.03. Following the acquisition, the insider directly owned 73,842,723 shares of the company's stock, valued at $52,428,333.33. This represents a 0.53% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Darin J. Weber sold 103,480 shares of the business's stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $3.02, for a total transaction of $312,509.60. The disclosure for this sale can be found here. Insiders own 41.49% of the company's stock.

Institutional Investors Weigh In On ProKidney

A number of institutional investors have recently modified their holdings of PROK. AQR Capital Management LLC grew its position in shares of 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 buying an additional 27,098 shares during the last quarter. ProShare Advisors LLC grew its position in ProKidney by 57.3% in the 4th quarter. ProShare Advisors LLC now owns 30,879 shares of the company's stock worth $52,000 after purchasing an additional 11,250 shares during the last quarter. Sei Investments Co. bought a new position in ProKidney in the 4th quarter worth about $69,000. Deutsche Bank AG grew its position in ProKidney by 49.4% in the 1st quarter. Deutsche Bank AG now owns 86,337 shares of the company's stock worth $76,000 after purchasing an additional 28,546 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new stake in shares of ProKidney in the 4th quarter worth approximately $88,000. Institutional investors own 51.59% of the company's stock.

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.