ProKidney (NASDAQ:PROK) Upgraded to Sell at Wall Street Zen

Key Points

• Wall Street Zen upgraded ProKidney (NASDAQ:PROK) from a "strong sell" to a "sell" rating.
• Analysts remain mixed: MarketBeat shows a consensus of "Moderate Buy" with an average price target of $7.40, including one Strong Buy, four Buy, one Hold and two Sell ratings.
• Shares jumped about 11.8% to open at $2.18 after the company slightly beat EPS estimates (‑$0.14 vs. ‑$0.16); ProKidney has a market cap of ~$658.2M and roughly 51.6% institutional ownership.

ProKidney (NASDAQ:PROK - Get Free Report) was upgraded by investment analysts at Wall Street Zen from a "strong sell" rating to a "sell" rating in a research note issued on Saturday.

Several other research firms also recently commented on PROK. Weiss Ratings reissued a "sell (d-)" rating on shares of ProKidney in a report on Thursday, January 22nd. Jefferies Financial Group raised ProKidney to a "strong-buy" rating in a report on Wednesday, March 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, ProKidney presently has a consensus rating of "Moderate Buy" and an average price target of $7.40.

ProKidney Stock Up 11.8%

Shares of PROK stock opened at $2.18 on Friday. The business's fifty day moving average is $2.05 and its 200 day moving average is $2.33. ProKidney has a twelve month low of $0.54 and a twelve month high of $7.13. The stock has a market cap of $658.19 million, a price-to-earnings ratio of -4.19 and a beta of 1.84.

ProKidney (NASDAQ:PROK - Get Free Report) last released its earnings results on Wednesday, March 18th. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.02. The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.00 million. Equities research analysts expect that ProKidney will post -0.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Hennion & Walsh Asset Management Inc. lifted its holdings in shares of ProKidney by 63.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company's stock valued at $3,369,000 after purchasing an additional 583,983 shares in the last quarter. Zullo Investment Group Inc. bought a new position in shares of ProKidney during the third quarter valued at $28,000. Marshall Wace LLP bought a new position in shares of ProKidney during the second quarter valued at $274,000. Virtus Investment Advisers LLC bought a new position in shares of ProKidney during the fourth quarter valued at $270,000. Finally, Two Sigma Investments LP lifted its holdings in shares of ProKidney by 40.4% during the third quarter. Two Sigma Investments LP now owns 99,282 shares of the company's stock valued at $240,000 after purchasing an additional 28,583 shares in the last quarter. 51.59% of the stock is owned by institutional investors.

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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