ProKidney Corp. (NASDAQ:PROK) Receives Consensus Recommendation of "Hold" from Analysts

Key Points

• ProKidney Corp. (NASDAQ:PROK) has received a consensus rating of "Hold" from analysts, with an average target price of $6.25.
• The stock is currently trading at $2.30, showing a 52-week range between $0.46 and $7.13.
• JPMorgan Chase & Co. significantly increased its stake in ProKidney by 3,024.9% during the second quarter, reflecting growing institutional interest in the company.

ProKidney Corp. (NASDAQ:PROK - Get Free Report) has received an average rating of "Hold" from the six brokerages that are covering the stock, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $6.25.

Several equities research analysts have issued reports on PROK shares. UBS Group boosted their price objective on shares of ProKidney from $4.00 to $8.00 and gave the stock a "buy" rating in a research note on Tuesday, July 15th. Zacks Research downgraded shares of ProKidney from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Bank of America downgraded shares of ProKidney from a "neutral" rating to an "underperform" rating and decreased their target price for the company from $3.00 to $1.00 in a research note on Monday, June 30th. Guggenheim restated a "buy" rating and issued a $7.00 target price (up from $6.00) on shares of ProKidney in a research note on Monday, July 14th. Finally, Wall Street Zen upgraded shares of ProKidney from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd.

ProKidney Stock Down 2.5%

PROK opened at $2.30 on Wednesday. ProKidney has a 52-week low of $0.46 and a 52-week high of $7.13. The company has a 50 day moving average of $2.52 and a two-hundred day moving average of $1.46. The company has a market cap of $676.84 million, a P/E ratio of -4.04 and a beta of 1.74.

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

Insider Buying and Selling at ProKidney

In other news, insider Darin J. Weber sold 103,480 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total value of $312,509.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 41.49% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PROK. JPMorgan Chase & Co. boosted its stake in shares of ProKidney by 3,024.9% in the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company's stock valued at $988,000 after purchasing an additional 1,615,243 shares during the period. Jane Street Group LLC acquired a new stake in ProKidney in the second quarter valued at $350,000. Marshall Wace LLP acquired a new stake in ProKidney in the second quarter valued at $274,000. Y Intercept Hong Kong Ltd acquired a new stake in ProKidney in the second quarter valued at $208,000. Finally, Hennion & Walsh Asset Management Inc. raised its holdings in ProKidney by 48.5% in the first 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 in the last quarter. 51.59% of the stock is currently 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.

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