ProKidney Corp. (NASDAQ:PROK) Receives $6.25 Consensus PT from Analysts

Shares of ProKidney Corp. (NASDAQ:PROK) have earned an average recommendation of “Hold” from the six ratings firms that are presently covering the company, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $6.25.

PROK has been the subject of a number of analyst reports. Guggenheim restated a “buy” rating and issued a $7.00 price objective (up from $6.00) on shares of ProKidney in a research note on Monday, July 14th. Bank of America cut shares of ProKidney from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $3.00 to $1.00 in a research note on Monday, June 30th. Citigroup reiterated a “buy” rating and set a $9.00 target price (up from $6.00) on shares of ProKidney in a research note on Wednesday, July 9th. Zacks Research cut shares of ProKidney from a “strong-buy” rating to a “hold” rating in a research note on Monday, August 18th. Finally, Wall Street Zen upgraded shares of ProKidney from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd.

Insider Buying and Selling

In related news, insider Darin J. Weber sold 103,480 shares of the company’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $3.02, for a total transaction of $312,509.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 41.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ProKidney

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its stake in ProKidney by 4.3% during the 1st quarter. Bank of New York Mellon Corp now owns 239,673 shares of the company’s stock valued at $210,000 after purchasing an additional 9,903 shares during the last quarter. BNP Paribas Financial Markets acquired a new position in ProKidney during the 4th quarter valued at $110,000. Bank of America Corp DE raised its stake in shares of ProKidney by 3.2% in the 4th quarter. Bank of America Corp DE now owns 539,232 shares of the company’s stock valued at $911,000 after buying an additional 16,538 shares in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in shares of ProKidney by 48.5% in the 1st quarter. Hennion & Walsh Asset Management Inc. now owns 844,277 shares of the company’s stock valued at $740,000 after buying an additional 275,630 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its stake in shares of ProKidney by 17.3% in the 4th quarter. Nuveen Asset Management LLC now owns 266,366 shares of the company’s stock valued at $450,000 after buying an additional 39,216 shares in the last quarter. 51.59% of the stock is currently owned by institutional investors and hedge funds.

ProKidney Trading Down 2.2%

Shares of ProKidney stock opened at $2.25 on Wednesday. The firm has a fifty day simple moving average of $2.62 and a 200-day simple moving average of $1.48. ProKidney has a 1-year low of $0.46 and a 1-year high of $7.13. The stock has a market capitalization of $662.13 million, a price-to-earnings ratio of -3.95 and a beta of 1.74.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings data on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $0.22 million during the quarter. As a group, research analysts predict that ProKidney will post -0.57 earnings per share for the current year.

About ProKidney

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.