ProKidney’s (PROK) Buy Rating Reaffirmed at HC Wainwright

ProKidney (NASDAQ:PROK)‘s stock had its “buy” rating reaffirmed by analysts at HC Wainwright in a research report issued on Monday,Benzinga reports. They presently have a $12.00 price objective on the stock.

A number of other research firms also recently weighed in on PROK. Jefferies Financial Group upgraded ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. Wall Street Zen cut shares of ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, ProKidney has an average rating of “Moderate Buy” and a consensus target price of $7.40.

ProKidney Price Performance

Shares of PROK stock traded down $0.05 during mid-day trading on Monday, hitting $1.62. The stock had a trading volume of 159,402 shares, compared to its average volume of 880,970. The firm has a market cap of $487.60 million, a PE ratio of -3.07 and a beta of 1.70. The company’s 50-day simple moving average is $1.96 and its 200-day simple moving average is $2.18. ProKidney has a fifty-two week low of $0.54 and a fifty-two week high of $7.13.

ProKidney (NASDAQ:PROK) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.10 million. On average, analysts expect that ProKidney will post -0.72 EPS for the current year.

Institutional Investors Weigh In On ProKidney

Institutional investors and hedge funds have recently modified their holdings of the stock. Millennium Management LLC acquired a new stake in ProKidney in the third quarter valued at approximately $4,734,000. Artia Global Partners LP acquired a new position in ProKidney during the 4th quarter valued at approximately $4,118,000. JPMorgan Chase & Co. increased its position in ProKidney by 3,024.9% in the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock worth $988,000 after buying an additional 1,615,243 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of ProKidney by 578.6% during the fourth quarter. Renaissance Technologies LLC now owns 895,705 shares of the company’s stock valued at $2,006,000 after acquiring an additional 763,705 shares during the period. Finally, Jane Street Group LLC bought a new position in shares of ProKidney during the second quarter worth about $350,000. 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.