ProKidney (NASDAQ:PROK) Issues Earnings Results

by · The Cerbat Gem

ProKidney (NASDAQ:PROK – Get Free Report) posted its quarterly earnings data on Monday. The company reported ($0.12) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.12), Zacks reports.

ProKidney Price Performance

Shares of PROK stock traded down $0.19 on Monday, hitting $2.70. 2,091,572 shares of the stock traded hands, compared to its average volume of 4,746,031. The company’s fifty day moving average is $2.79 and its 200 day moving average is $2.09. ProKidney has a 1-year low of $0.46 and a 1-year high of $7.13. The company has a market capitalization of $794.56 million, a PE ratio of -4.74 and a beta of 1.75.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on PROK shares. Zacks Research lowered ProKidney from a “strong-buy” rating to a “hold” rating in a research report on Monday, August 18th. Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a report on Wednesday, October 8th. Guggenheim reaffirmed a “buy” rating and issued a $7.00 target price (up from $6.00) on shares of ProKidney in a research report on Monday, July 14th. Finally, UBS Group raised their price target on shares of ProKidney from $4.00 to $8.00 and gave the stock a “buy” rating in a research report on Tuesday, July 15th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $6.25.

View Our Latest Stock Report on PROK

Institutional Trading of ProKidney

A number of institutional investors and hedge funds have recently modified their holdings of the business. AQR Capital Management LLC lifted its position in shares of 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 buying an additional 27,098 shares during the last quarter. Marshall Wace LLP bought a new stake in shares of ProKidney during the 2nd quarter valued at about $274,000. Jane Street Group LLC acquired a new stake in ProKidney during the second quarter worth about $350,000. Bank of America Corp DE lifted its holdings in ProKidney by 12.4% in the second quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock worth $501,000 after acquiring an additional 93,322 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in ProKidney by 3,024.9% in the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock valued at $988,000 after acquiring an additional 1,615,243 shares during the period. 51.59% of the stock is owned by institutional investors and hedge funds.

About ProKidney

(Get Free Report)

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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