Brokerages Set ProKidney Corp. (NASDAQ:PROK) Price Target at $7.40

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

PROK has been the subject of several recent analyst reports. Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a report on Thursday, January 22nd. HC Wainwright assumed coverage on shares of ProKidney in a research report on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price on the stock.

Insider Activity

In other news, Director Brian Jg Pereira sold 502,136 shares of the business’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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 41.49% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of PROK. AQR Capital Management LLC grew its stake in ProKidney by 106.4% during the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after buying an additional 27,098 shares during the period. Y Intercept Hong Kong Ltd purchased a new position in shares of ProKidney in the 2nd quarter valued at $208,000. Catalyst Funds Management Pty Ltd acquired a new position in shares of ProKidney during the 2nd quarter valued at $36,000. JPMorgan Chase & Co. boosted 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 worth $988,000 after purchasing an additional 1,615,243 shares during the period. Finally, Marshall Wace LLP purchased a new stake in ProKidney during the 2nd quarter worth $274,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

ProKidney Stock Performance

PROK stock opened at $1.87 on Friday. The company has a 50 day moving average price of $2.24 and a two-hundred day moving average price of $2.52. The stock has a market capitalization of $562.55 million, a P/E ratio of -3.40 and a beta of 1.78. ProKidney has a one year low of $0.46 and a one year high of $7.13.

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

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.