ProKidney FY2030 EPS Estimate Decreased by HC Wainwright

Key Points

• HC Wainwright lowered ProKidney’s FY2030 EPS estimate to $0.08 from $0.10, while maintaining a “Buy” rating and a $12 price target.
• ProKidney reported a quarterly loss of $0.15 per share, missing the $0.14 consensus estimate, while revenue of $0.15 million also fell short of the expected $0.19 million.
• The stock opened at $1.61, near its 52-week low of $1.45, and institutional investors own 51.59% of the company’s shares. Analysts collectively give ProKidney a “Moderate Buy” rating with a $12 consensus target.

ProKidney Corp. (NASDAQ:PROK - Free Report) - Equities research analysts at HC Wainwright decreased their FY2030 earnings estimates for shares of ProKidney in a research note issued on Tuesday, August 11th. HC Wainwright analyst J. Pantginis now forecasts that the company will post earnings per share of $0.08 for the year, down from their prior forecast of $0.10. HC Wainwright has a "Buy" rating and a $12.00 price objective on the stock. The consensus estimate for ProKidney's current full-year earnings is ($0.49) per share.

A number of other research firms have also commented on PROK. Wall Street Zen lowered ProKidney from a "sell" rating to a "strong sell" rating in a research report on Saturday, May 16th. Weiss Ratings upgraded ProKidney from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, ProKidney has an average rating of "Moderate Buy" and a consensus target price of $12.00.

ProKidney Price Performance

NASDAQ PROK opened at $1.61 on Wednesday. The stock has a market capitalization of $486.32 million, a PE ratio of -2.93 and a beta of 1.66. ProKidney has a 1 year low of $1.45 and a 1 year high of $3.48. The business's 50-day moving average is $1.71 and its 200 day moving average is $1.88.

ProKidney (NASDAQ:PROK - Get Free Report) last released its quarterly earnings data on Monday, August 10th. The company reported ($0.15) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.14) by ($0.01). The business had revenue of $0.15 million for the quarter, compared to analysts' expectations of $0.19 million.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Millennium Management LLC purchased a new stake in shares of ProKidney in the third quarter worth $4,734,000. Hennion & Walsh Asset Management Inc. raised its position in shares of ProKidney by 14.6% in the 2nd quarter. Hennion & Walsh Asset Management Inc. now owns 1,847,749 shares of the company's stock worth $3,769,000 after purchasing an additional 236,056 shares during the last quarter. Artia Global Partners LP bought a new position in ProKidney in the 4th quarter worth about $4,118,000. JPMorgan Chase & Co. boosted its stake in ProKidney by 3,024.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company's stock worth $988,000 after purchasing an additional 1,615,243 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in ProKidney by 39.6% during the 1st quarter. Renaissance Technologies LLC now owns 1,250,794 shares of the company's stock valued at $2,239,000 after purchasing an additional 355,089 shares during the last quarter. Hedge funds and other institutional investors own 51.59% of the company's stock.

ProKidney Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source