ProKidney (NASDAQ:PROK) Issues Quarterly Earnings Results

ProKidney (NASDAQ:PROK) issued its earnings results on Thursday. The company reported ($0.17) EPS for the quarter, missing the consensus estimate of ($0.13) by ($0.04), FiscalAI reports. The business had revenue of $0.17 million during the quarter, compared to analyst estimates of $0.12 million.

ProKidney Trading Up 1.8%

Shares of ProKidney stock traded up $0.02 during trading on Thursday, hitting $1.15. The stock had a trading volume of 1,086,887 shares, compared to its average volume of 1,136,153. The firm has a market cap of $347.67 million, a price-to-earnings ratio of -2.09 and a beta of 1.90. ProKidney has a 12 month low of $0.87 and a 12 month high of $2.65. The business’s 50-day moving average is $1.56 and its 200 day moving average is $1.78.

Insider Activity

In related news, Director Brian Pereira sold 222,948 shares of ProKidney stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $1.42, for a total transaction of $316,586.16. Following the completion of the sale, the director owned 54,103 shares of the company’s stock, valued at approximately $76,826.26. This trade represents a 80.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders sold a total of 757,164 shares of company stock valued at $1,067,315 in the last quarter. Company insiders own 39.83% of the company’s stock.

Analysts Set New Price Targets

PROK has been the topic of several analyst reports. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research report on Tuesday, October 6th. Citigroup cut their price objective on shares of ProKidney to $8.00 and set a “buy” rating for the company in a research report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, two have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.00.

ProKidney Company Profile

ProKidney is a clinical-stage biotechnology company developing cell therapies for people with chronic kidney disease. The company’s work focuses on treatments intended to help preserve kidney function, particularly in patients with diabetic kidney disease. Its lead investigational product, REACT (REnal Autologous Cell Therapy), is made from cells collected from a patient’s own kidney tissue. The cells are processed and delivered back to the patient’s kidney. REACT is being evaluated in clinical trials and is not an approved treatment.