ProKidney Corp. (NASDAQ:PROK) Receives $5.67 Average Price Target from Analysts

Shares of ProKidney Corp. (NASDAQ:PROK - Get Free Report) have been assigned an average recommendation of "Hold" from the five research firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell recommendation, one has assigned a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $6.25.

A number of brokerages have weighed in on PROK. Wall Street Zen raised shares of ProKidney from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Citigroup reiterated a "buy" rating and issued a $9.00 price objective (up from $6.00) on shares of ProKidney in a report on Wednesday, July 9th. UBS Group reiterated a "buy" rating and issued a $8.00 price objective (up from $4.00) on shares of ProKidney in a report on Tuesday. Guggenheim reiterated a "buy" rating and issued a $7.00 price objective (up from $6.00) on shares of ProKidney in a report on Monday. Finally, Bank of America downgraded shares of ProKidney from a "neutral" rating to an "underperform" rating and lowered their price objective for the company from $3.00 to $1.00 in a report on Monday, June 30th.

Insider Buying and Selling

In other ProKidney news, insider Control Empresarial De Capital acquired 387,393 shares of the stock in a transaction dated Tuesday, April 22nd. The shares were bought at an average cost of $0.71 per share, for a total transaction of $275,049.03. Following the completion of the acquisition, the insider directly owned 73,842,723 shares of the company's stock, valued at approximately $52,428,333.33. This trade represents a 0.53% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Darin J. Weber sold 103,480 shares of the business's stock in a transaction on 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. 41.49% of the stock is owned by company insiders.

Hedge Funds Weigh In On ProKidney

Institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Financial Markets acquired a new position in ProKidney during the fourth quarter worth $110,000. Bank of America Corp DE increased its holdings in ProKidney by 3.2% during the fourth quarter. Bank of America Corp DE now owns 539,232 shares of the company's stock worth $911,000 after buying an additional 16,538 shares during the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in ProKidney by 48.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 844,277 shares of the company's stock worth $740,000 after buying an additional 275,630 shares during the last quarter. Barclays PLC increased its holdings in ProKidney by 17.4% during the fourth quarter. Barclays PLC now owns 171,797 shares of the company's stock worth $290,000 after buying an additional 25,476 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its holdings in ProKidney by 17.3% during the fourth quarter. Nuveen Asset Management LLC now owns 266,366 shares of the company's stock worth $450,000 after buying an additional 39,216 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

ProKidney Price Performance

PROK traded down $0.37 during trading on Tuesday, reaching $3.15. The company had a trading volume of 6,548,453 shares, compared to its average volume of 3,593,112. ProKidney has a 12 month low of $0.46 and a 12 month high of $7.13. The business's fifty day moving average price is $1.28 and its 200 day moving average price is $1.23. The company has a market cap of $922.01 million, a P/E ratio of -5.25 and a beta of 1.26.

ProKidney (NASDAQ:PROK - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported ($0.13) earnings per share for the quarter, beating analysts' consensus estimates of ($0.16) by $0.03. The company 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.

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.