ProKidney (NASDAQ:PROK - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.13) earnings per share for the quarter, topping analysts' consensus estimates of ($0.14) by $0.01, Zacks reports. The firm had revenue of $0.22 million for the quarter.
ProKidney Stock Up 7.6%
Shares of PROK stock traded up $0.18 during trading hours on Monday, hitting $2.54. 2,727,038 shares of the company's stock traded hands, compared to its average volume of 3,149,340. The stock's fifty day simple moving average is $2.18 and its two-hundred day simple moving average is $1.40. ProKidney has a 12-month low of $0.46 and a 12-month high of $7.13. The stock has a market cap of $743.46 million, a price-to-earnings ratio of -4.46 and a beta of 1.76.
Insider Buying and Selling at ProKidney
In other ProKidney news, insider Darin J. Weber sold 103,480 shares of ProKidney 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 41.49% of the stock is owned by insiders.
Hedge Funds Weigh In On ProKidney
Several institutional investors and hedge funds have recently modified their holdings of PROK. AQR Capital Management LLC boosted its stake in ProKidney by 106.4% in the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock worth $46,000 after purchasing an additional 27,098 shares in the last quarter. Marshall Wace LLP purchased a new position in ProKidney in the second quarter worth about $274,000. Jane Street Group LLC bought a new position in shares of ProKidney in the second quarter worth approximately $350,000. Bank of America Corp DE grew its holdings in shares of ProKidney by 12.4% during the second quarter. Bank of America Corp DE now owns 846,154 shares of the company's stock valued at $501,000 after buying an additional 93,322 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in shares of ProKidney by 3,024.9% during the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company's stock valued at $988,000 after buying an additional 1,615,243 shares during the last quarter. 51.59% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently 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. UBS Group upped their target price on ProKidney from $4.00 to $8.00 and gave the stock a "buy" rating in a report on Tuesday, July 15th. Bank of America lowered ProKidney from a "neutral" rating to an "underperform" rating and decreased their target price for the stock from $3.00 to $1.00 in a research report on Monday, June 30th. Guggenheim restated a "buy" rating and set a $7.00 price target (up from $6.00) on shares of ProKidney in a research report on Monday, July 14th. Finally, Citigroup reaffirmed a "buy" rating and issued a $9.00 price target (up from $6.00) on shares of ProKidney in a research note on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $6.25.
Check Out Our Latest Report on PROK
About ProKidney
(
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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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