ProKidney Corp. (NASDAQ:PROK – Get Free Report)’s share price was down 5.3% during trading on Monday . The stock traded as low as $1.70 and last traded at $1.7050. Approximately 403,644 shares were traded during trading, a decline of 56% from the average daily volume of 913,568 shares. The stock had previously closed at $1.80.
Analyst Upgrades and Downgrades
Several equities analysts have commented on PROK shares. Jefferies Financial Group raised shares of ProKidney to a “strong-buy” rating in a research report on Wednesday, March 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a research report on Tuesday, April 21st. Wall Street Zen downgraded shares of ProKidney from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Finally, HC Wainwright reissued a “buy” rating and set a $12.00 target price on shares of ProKidney in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $7.40.
View Our Latest Research Report on PROK
ProKidney Stock Down 5.2%
ProKidney (NASDAQ:PROK – Get Free Report) last issued 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 firm had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.10 million. Equities analysts expect that ProKidney Corp. will post -0.49 EPS for the current fiscal year.
Institutional Investors Weigh In On ProKidney
Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers acquired a new stake in shares of ProKidney in the fourth quarter valued at about $28,000. R Squared Ltd bought a new stake in shares of ProKidney in the first quarter valued at about $25,000. SummitTX Capital L.P. bought a new stake in shares of ProKidney in the first quarter valued at about $26,000. EntryPoint Capital LLC bought a new stake in shares of ProKidney in the fourth quarter valued at about $65,000. Finally, Hudson Bay Capital Management LP bought a new stake in shares of ProKidney in the fourth quarter valued at about $101,000. 51.59% of the stock is owned by institutional investors and hedge funds.
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.
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