ProKidney's (PROK) "Sell (D-)" Rating Reaffirmed at Weiss Ratings

Key Points

• ProKidney's stock rating was reaffirmed as "sell (D-)" by Weiss Ratings, indicating continued bearish sentiment among analysts.
• Despite the negative evaluation from Weiss, other research firms have varied perspectives, with UBS Group raising its price target to $8.00 and Citigroup also reiterating a "buy" rating with a target increase to $9.00.
• ProKidney reported a quarterly earnings beat with a loss of ($0.13) per share, slightly better than the consensus estimate, amidst a volatile stock price range from a one-year low of $0.46 to a high of $7.13.

ProKidney (NASDAQ:PROK - Get Free Report)'s stock had its "sell (d-)" rating reissued by investment analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

A number of other research firms have also recently weighed in on PROK. UBS Group raised their price target on ProKidney from $4.00 to $8.00 and gave the company a "buy" rating in a research note on Tuesday, July 15th. Bank of America cut ProKidney from a "neutral" rating to an "underperform" rating and cut their price target for the company from $3.00 to $1.00 in a research note on Monday, June 30th. Citigroup restated 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. Guggenheim restated a "buy" rating and issued a $7.00 price target (up from $6.00) on shares of ProKidney in a research note on Monday, July 14th. Finally, Zacks Research cut ProKidney from a "strong-buy" rating to a "hold" rating in a research note on Monday, August 18th. Three equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, ProKidney has an average rating of "Hold" and an average target price of $6.25.

ProKidney Stock Performance

Shares of PROK opened at $3.26 on Wednesday. The stock has a 50-day simple moving average of $2.55 and a 200-day simple moving average of $1.71. The stock has a market capitalization of $959.36 million, a PE ratio of -5.72 and a beta of 1.72. ProKidney has a 1 year low of $0.46 and a 1 year high of $7.13.

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

Institutional Trading of ProKidney

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Bank of America Corp DE increased its position 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 worth $501,000 after purchasing an additional 93,322 shares in the last quarter. Jane Street Group LLC acquired a new stake in shares of ProKidney during the second quarter worth about $350,000. Marshall Wace LLP acquired a new stake in shares of ProKidney during the second quarter worth about $274,000. JPMorgan Chase & Co. increased its position 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 worth $988,000 after purchasing an additional 1,615,243 shares in the last quarter. Finally, Catalyst Funds Management Pty Ltd acquired a new stake in shares of ProKidney during the second quarter worth about $36,000. Institutional investors and hedge funds own 51.59% of the company's stock.

ProKidney Company Profile

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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