ProKidney (NASDAQ:PROK) Stock Price Up 9% - Should You Buy?

Key Points

• ProKidney shares jumped about 9% midday Friday to $2.125 on volume of roughly 1,008,158 shares, about 7% above the average session volume.
• Analyst opinions are mixed but the consensus is a "Moderate Buy" with an average price target of $7.40 (ratings include 1 Strong Buy, 4 Buy, 1 Hold and 2 Sell).
• ProKidney is a clinical-stage biotech developing cell-based therapies for kidney disease; it reported Q EPS of -$0.14 (beating estimates of -$0.16) with $0.23M revenue, has a market cap of ~$658M and ~51.6% institutional ownership.

ProKidney Corp. (NASDAQ:PROK - Get Free Report)'s share price traded up 9% during mid-day trading on Friday . The stock traded as high as $2.14 and last traded at $2.1250. 1,008,158 shares changed hands during trading, an increase of 7% from the average session volume of 940,350 shares. The stock had previously closed at $1.95.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on PROK. Wall Street Zen cut shares of ProKidney from a "hold" rating to a "sell" rating in a research note on Saturday, March 21st. Jefferies Financial Group upgraded shares of ProKidney to a "strong-buy" rating in a research report on Wednesday, March 18th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of ProKidney in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $7.40.

ProKidney Price Performance

The company has a market capitalization of $658.19 million, a price-to-earnings ratio of -4.19 and a beta of 1.84. The firm has a fifty day simple moving average of $2.04 and a 200 day simple moving average of $2.34.

ProKidney (NASDAQ:PROK - Get Free Report) last posted its quarterly earnings results on Wednesday, March 18th. The company reported ($0.14) earnings per share for the quarter, topping analysts' consensus estimates of ($0.16) by $0.02. The business had revenue of $0.23 million for the quarter, compared to analyst estimates of $0.00 million. Research analysts predict that ProKidney Corp. will post -0.57 EPS for the current year.

Institutional Investors Weigh In On ProKidney

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cetera Investment Advisers purchased a new position in ProKidney during the fourth quarter worth about $28,000. Zullo Investment Group Inc. acquired a new stake in shares of ProKidney during the third quarter worth about $28,000. AQR Capital Management LLC boosted its stake in shares of ProKidney by 106.4% in the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company's stock valued at $46,000 after purchasing an additional 27,098 shares during the period. EntryPoint Capital LLC purchased a new position in shares of ProKidney in the fourth quarter valued at approximately $65,000. Finally, Hudson Bay Capital Management LP acquired a new position in shares of ProKidney in the fourth quarter valued at approximately $101,000. Institutional investors and hedge funds 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.

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