ProKidney Corp. (NASDAQ:PROK) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of ProKidney Corp. (NASDAQ:PROK) have received a consensus recommendation of “Moderate Buy” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, one has issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $7.40.

A number of research firms have recently commented on PROK. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a report on Thursday, January 22nd. Wall Street Zen raised shares of ProKidney from a “strong sell” rating to a “sell” rating in a report on Saturday, April 18th. Finally, Jefferies Financial Group raised shares of ProKidney to a “strong-buy” rating in a report on Wednesday, March 18th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in PROK. AQR Capital Management LLC increased its stake in shares of ProKidney by 106.4% in the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock valued at $46,000 after buying an additional 27,098 shares during the period. JPMorgan Chase & Co. increased its stake in shares of ProKidney by 3,024.9% in the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock valued at $988,000 after buying an additional 1,615,243 shares during the period. Marshall Wace LLP acquired a new position in shares of ProKidney in the second quarter valued at approximately $274,000. Jane Street Group LLC acquired a new position in shares of ProKidney in the second quarter valued at approximately $350,000. Finally, Bank of America Corp DE increased its stake in shares of ProKidney by 12.4% in the second quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock valued at $501,000 after buying an additional 93,322 shares during the period. Institutional investors and hedge funds own 51.59% of the company’s stock.

ProKidney Stock Performance

PROK stock opened at $2.09 on Thursday. The stock has a market capitalization of $631.01 million, a P/E ratio of -4.02 and a beta of 1.84. ProKidney has a 12 month low of $0.54 and a 12 month high of $7.13. The firm has a 50-day moving average price of $2.05 and a 200-day moving average price of $2.32.

ProKidney (NASDAQ:PROK) last posted its earnings results on Wednesday, March 18th. The company reported ($0.14) EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.02. The company had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.00 million. As a group, equities analysts predict that ProKidney will post -0.72 EPS for the current fiscal year.

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.