ProKidney (NASDAQ:PROK) Announces Quarterly Earnings Results

ProKidney (NASDAQ:PROK) announced its quarterly earnings results on Wednesday. The company reported ($0.13) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.03, FiscalAI reports. The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.00 million.

ProKidney Stock Down 2.1%

PROK traded down $0.05 during trading hours on Wednesday, hitting $2.09. 289,150 shares of the company’s stock were exchanged, compared to its average volume of 831,806. The stock has a market cap of $627.23 million, a price-to-earnings ratio of -3.79 and a beta of 1.75. ProKidney has a 1-year low of $0.46 and a 1-year high of $7.13. The stock’s 50-day moving average is $2.18 and its two-hundred day moving average is $2.43.

Hedge Funds Weigh In On ProKidney

Large investors have recently modified their holdings of the business. Barclays PLC raised its stake in ProKidney by 17,000,000.0% in the 4th quarter. Barclays PLC now owns 170,001 shares of the company’s stock valued at $381,000 after acquiring an additional 170,000 shares during the period. Jane Street Group LLC bought a new position in ProKidney during the second quarter worth $350,000. ExodusPoint Capital Management LP boosted 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 worth $289,000 after purchasing an additional 23,924 shares during the period. OMERS ADMINISTRATION Corp acquired a new position in shares of ProKidney in the fourth quarter valued at $279,000. Finally, Marshall Wace LLP bought a new position in shares of ProKidney in the second quarter valued at about $274,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. HC Wainwright assumed coverage on shares of ProKidney in a report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research note on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $7.40.

About ProKidney

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.