ProKidney (NASDAQ:PROK) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

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

ProKidney Trading Down 2.1%

PROK stock traded down $0.05 during trading on Wednesday, hitting $2.09. 289,150 shares of the stock traded hands, 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. The company has a 50 day simple moving average of $2.18 and a 200 day simple moving average of $2.43. ProKidney has a one year low of $0.46 and a one year high of $7.13.

Wall Street Analyst Weigh In

PROK has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a report on Thursday, January 22nd. HC Wainwright began coverage on shares of ProKidney in a report on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price on the stock. Four investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $7.40.

Hedge Funds Weigh In On ProKidney

A number of institutional investors have recently modified their holdings of PROK. Cetera Investment Advisers acquired a new position in shares of ProKidney during the 4th quarter worth about $28,000. AQR Capital Management LLC boosted its stake in ProKidney by 106.4% during the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after acquiring an additional 27,098 shares during the last quarter. EntryPoint Capital LLC acquired a new position in ProKidney during the fourth quarter valued at approximately $65,000. Hudson Bay Capital Management LP acquired a new position in ProKidney during the fourth quarter valued at approximately $101,000. Finally, Jefferies Financial Group Inc. bought a new stake in ProKidney in the third quarter valued at approximately $158,000. 51.59% of the stock is owned by institutional investors.

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.