ProKidney Corp. (NASDAQ:PROK) Receives Average Rating of “Hold” from Brokerages

ProKidney Corp. (NASDAQ:PROK) has earned a consensus rating of “Hold” from the seven research firms that are covering the firm, MarketBeat reports. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and four have given a buy rating to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $7.40.

Several research analysts have recently commented on the company. HC Wainwright began coverage on ProKidney in a report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price objective for the company. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a research note on Thursday, January 22nd.

ProKidney Stock Performance

NASDAQ:PROK opened at $2.21 on Wednesday. The firm has a market capitalization of $664.83 million, a price-to-earnings ratio of -4.02 and a beta of 1.75. The stock has a fifty day moving average of $2.17 and a 200 day moving average of $2.44. ProKidney has a 52-week low of $0.46 and a 52-week high of $7.13.

Institutional Investors Weigh In On ProKidney

A number of large investors have recently added to or reduced their stakes in PROK. Virtus Investment Advisers LLC bought a new stake in ProKidney during the fourth quarter worth about $270,000. Artia Global Partners LP bought a new stake in ProKidney in the 4th quarter worth approximately $4,118,000. Cetera Investment Advisers bought a new stake in ProKidney in the 4th quarter worth approximately $28,000. Amundi purchased a new stake in ProKidney in the fourth quarter worth approximately $610,000. Finally, ExodusPoint Capital Management LP grew its position in ProKidney by 22.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 128,853 shares of the company’s stock valued at $289,000 after acquiring an additional 23,924 shares during the last quarter. Hedge funds and other institutional investors 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.