ProKidney Corp. (NASDAQ:PROK) Receives $7.40 Average Price Target from Analysts

ProKidney Corp. (NASDAQ:PROK) has been assigned an average recommendation of “Hold” from the seven analysts that are covering the stock, MarketBeat.com reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and four have given a buy recommendation to the company. The average 12 month target price among brokerages that have covered the stock in the last year is $7.40.

A number of brokerages have recently commented on PROK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research note on Wednesday, October 8th. HC Wainwright began coverage on shares of ProKidney in a research report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price target on the stock.

Insider Activity

In other news, Director Brian Jg Pereira sold 502,136 shares of the firm’s stock in a transaction dated Thursday, November 13th. The stock was sold at an average price of $2.37, for a total transaction of $1,190,062.32. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 41.49% of the stock is currently owned by insiders.

Hedge Funds Weigh In On ProKidney

A number of hedge funds have recently bought and sold shares of PROK. Millennium Management LLC acquired a new stake in ProKidney in the third quarter valued at approximately $4,734,000. JPMorgan Chase & Co. grew its stake in ProKidney by 3,024.9% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock valued at $988,000 after acquiring an additional 1,615,243 shares during the period. Jane Street Group LLC acquired a new stake in ProKidney in the 2nd quarter valued at $350,000. Marshall Wace LLP purchased a new stake in ProKidney in the 2nd quarter worth $274,000. Finally, Y Intercept Hong Kong Ltd acquired a new position in ProKidney during the second quarter worth $208,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

ProKidney Stock Performance

NASDAQ PROK opened at $2.36 on Tuesday. The firm has a market capitalization of $709.96 million, a P/E ratio of -4.29 and a beta of 1.79. The stock has a 50-day simple moving average of $2.38 and a two-hundred day simple moving average of $2.53. ProKidney has a fifty-two week low of $0.46 and a fifty-two week high of $7.13.

ProKidney (NASDAQ:PROK) last posted its earnings results on Monday, November 10th. The company reported ($0.12) EPS for the quarter, hitting the consensus estimate of ($0.12). The company had revenue of $0.22 million for the quarter, compared to analyst estimates of $0.04 million. As a group, analysts forecast that ProKidney will post -0.57 earnings per share for the current 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.