ProKidney Corp. (NASDAQ:PROK – Get Free Report)’s share price shot up 10.8% on Thursday . The stock traded as high as $1.97 and last traded at $2.0950. Approximately 116,901 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 987,148 shares. The stock had previously closed at $1.89.
Analyst Ratings Changes
Several equities research analysts recently commented on PROK shares. Weiss Ratings downgraded shares of ProKidney from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Thursday, June 25th. Wall Street Zen cut shares of ProKidney from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. Jefferies Financial Group raised shares of ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, HC Wainwright restated a “buy” rating and issued a $12.00 target price on shares of ProKidney in a report on Monday, May 18th. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ProKidney currently has a consensus rating of “Moderate Buy” and an average target price of $9.00.
Check Out Our Latest Report on ProKidney
ProKidney Stock Performance
ProKidney (NASDAQ:PROK – Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.14) earnings per share for the quarter, missing analysts’ consensus estimates 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. As a group, analysts expect that ProKidney Corp. will post -0.49 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ProKidney
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp boosted its stake in shares of ProKidney by 1.1% during the 4th quarter. State Street Corp now owns 480,345 shares of the company’s stock valued at $1,076,000 after buying an additional 5,388 shares during the period. Squarepoint Ops LLC increased its stake in shares of ProKidney by 2.0% in the fourth quarter. Squarepoint Ops LLC now owns 351,421 shares of the company’s stock worth $787,000 after acquiring an additional 6,845 shares during the last quarter. Cetera Investment Advisers purchased a new stake in shares of ProKidney during the fourth quarter worth $28,000. R Squared Ltd purchased a new stake in shares of ProKidney during the first quarter worth $25,000. Finally, SummitTX Capital L.P. acquired a new stake in ProKidney during the first quarter valued at $26,000. 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.
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