ProKidney (NASDAQ:PROK) Rating Increased to Strong-Buy at Jefferies Financial Group

ProKidney (NASDAQ:PROK) was upgraded by Jefferies Financial Group to a “strong-buy” rating in a note issued to investors on Wednesday,Zacks.com reports.

Several other analysts have also recently weighed in on PROK. HC Wainwright initiated coverage on ProKidney in a research report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price objective on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a research report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $7.40.

ProKidney Price Performance

Shares of NASDAQ PROK opened at $2.08 on Wednesday. ProKidney has a 1 year low of $0.46 and a 1 year high of $7.13. The stock has a market capitalization of $625.73 million, a P/E ratio of -3.78 and a beta of 1.75. The company’s 50-day moving average is $2.17 and its 200 day moving average is $2.43.

Hedge Funds Weigh In On ProKidney

Institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC purchased a new position in shares of ProKidney during the third quarter valued at approximately $4,734,000. Artia Global Partners LP bought a new position in ProKidney during the 4th quarter valued at approximately $4,118,000. JPMorgan Chase & Co. increased its position in ProKidney by 3,024.9% during the 2nd 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 in the last quarter. Hennion & Walsh Asset Management Inc. raised its stake in ProKidney by 63.5% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company’s stock valued at $3,369,000 after buying an additional 583,983 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in ProKidney by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 1,197,530 shares of the company’s stock valued at $2,684,000 after buying an additional 100,748 shares during the last quarter. Institutional investors own 51.59% of the company’s stock.

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.