ProKidney (NASDAQ:PROK) Earns “Buy” Rating from HC Wainwright

ProKidney (NASDAQ:PROK)‘s stock had its “buy” rating reaffirmed by HC Wainwright in a note issued to investors on Monday,Benzinga reports. They currently have a $12.00 target price on the stock.

Several other analysts have also recently issued reports on PROK. Jefferies Financial Group raised shares of ProKidney to a “strong-buy” rating in a research report on Wednesday, March 18th. Wall Street Zen lowered ProKidney from a “sell” rating to a “strong sell” rating in a research report on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a research report on Tuesday, April 21st. One research 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 assigned a Sell rating to the company. Based on data from MarketBeat.com, ProKidney presently has an average rating of “Moderate Buy” and a consensus target price of $7.40.

ProKidney Stock Down 2.7%

Shares of PROK traded down $0.05 during midday trading on Monday, reaching $1.62. The company had a trading volume of 159,402 shares, compared to its average volume of 880,970. ProKidney has a 1-year low of $0.54 and a 1-year high of $7.13. The firm has a 50 day simple moving average of $1.96 and a 200-day simple moving average of $2.18. The stock has a market cap of $487.60 million, a PE ratio of -3.07 and a beta of 1.70.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.13) by ($0.01). The company had revenue of $0.23 million for the quarter, compared to analysts’ expectations of $0.10 million. As a group, sell-side analysts anticipate that ProKidney will post -0.72 earnings per share for the current fiscal year.

Institutional Trading of ProKidney

Institutional investors and hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers acquired a new position in ProKidney during the fourth quarter worth approximately $28,000. R Squared Ltd purchased a new stake in shares of ProKidney in the first quarter valued at about $25,000. SummitTX Capital L.P. acquired a new stake in shares of ProKidney during the first quarter worth about $26,000. EntryPoint Capital LLC acquired a new position in ProKidney in the 4th quarter valued at about $65,000. Finally, Hudson Bay Capital Management LP purchased a new stake in ProKidney during the 4th quarter valued at approximately $101,000. 51.59% of the stock is owned by hedge funds and other 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.