ProKidney (NASDAQ:PROK) Issues Earnings Results, Misses Estimates By $0.01 EPS

ProKidney (NASDAQ:PROK) announced its quarterly earnings data on Friday. The company reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01), FiscalAI reports. The company had revenue of $0.23 million during the quarter, compared to analysts’ expectations of $0.10 million.

ProKidney Stock Performance

Shares of NASDAQ PROK traded down $0.05 during trading on Friday, reaching $1.66. The stock had a trading volume of 883,840 shares, compared to its average volume of 889,132. ProKidney has a fifty-two week low of $0.54 and a fifty-two week high of $7.13. The company has a market cap of $501.19 million, a P/E ratio of -3.19 and a beta of 1.70. The business’s 50-day moving average price is $1.97 and its 200-day moving average price is $2.19.

Institutional Investors Weigh In On ProKidney

Large investors have recently bought and sold shares of the stock. Squarepoint Ops LLC increased its holdings in ProKidney by 2.0% during the 4th quarter. Squarepoint Ops LLC now owns 351,421 shares of the company’s stock worth $787,000 after purchasing an additional 6,845 shares during the period. Amundi purchased a new stake in ProKidney during the 4th quarter worth about $610,000. Bank of America Corp DE increased its holdings in ProKidney by 12.4% during the 2nd quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock worth $501,000 after purchasing an additional 93,322 shares during the period. Barclays PLC increased its holdings in ProKidney by 17,000,000.0% during the 4th quarter. Barclays PLC now owns 170,001 shares of the company’s stock worth $381,000 after purchasing an additional 170,000 shares during the period. Finally, ExodusPoint Capital Management LP increased its holdings in ProKidney by 22.8% during the 4th 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. Hedge funds and other institutional investors own 51.59% of the company’s stock.

Wall Street Analyst Weigh In

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

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.