HC Wainwright Has Negative View of ProKidney FY2030 Earnings

ProKidney Corp. (NASDAQ:PROK) – Equities research analysts at HC Wainwright decreased their FY2030 earnings per share (EPS) estimates for ProKidney in a note issued to investors on Monday, May 18th. HC Wainwright analyst J. Pantginis now anticipates that the company will post earnings per share of $0.10 for the year, down from their previous forecast of $0.17. HC Wainwright has a “Buy” rating and a $12.00 price target on the stock. The consensus estimate for ProKidney’s current full-year earnings is ($0.72) per share.

PROK has been the subject of a number of other research reports. Jefferies Financial Group raised ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. Wall Street Zen cut ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, ProKidney has a consensus rating of “Moderate Buy” and an average target price of $7.40.

ProKidney Price Performance

NASDAQ PROK opened at $1.61 on Tuesday. The business has a 50 day simple moving average of $1.94 and a 200 day simple moving average of $2.17. ProKidney has a one year low of $0.54 and a one year high of $7.13. The stock has a market capitalization of $486.08 million, a P/E ratio of -3.04 and a beta of 1.70.

ProKidney (NASDAQ:PROK) last released its earnings results on Friday, May 15th. The company reported ($0.14) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.01). The company had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.10 million.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of PROK. 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 purchased a new position in shares of ProKidney during the fourth quarter valued at approximately $4,118,000. JPMorgan Chase & Co. boosted its position in shares of ProKidney by 3,024.9% during 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 last quarter. Renaissance Technologies LLC boosted its position in shares of ProKidney by 578.6% during the fourth quarter. Renaissance Technologies LLC now owns 895,705 shares of the company’s stock valued at $2,006,000 after buying an additional 763,705 shares during the last quarter. Finally, Jane Street Group LLC purchased a new position in shares of ProKidney during the second quarter valued at approximately $350,000. Hedge funds and other 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.