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

Shares of ProKidney Corp. (NASDAQ:PROK) have been assigned a consensus rating of “Moderate Buy” from the eight analysts that are presently covering the stock, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation, four have given a buy recommendation and one has issued a strong buy recommendation on the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $7.40.

A number of analysts recently issued reports on PROK shares. Wall Street Zen cut ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday. Jefferies Financial Group raised ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a research note on Tuesday, April 21st.

ProKidney Stock Performance

NASDAQ PROK opened at $1.66 on Monday. The business has a 50 day simple moving average of $1.96 and a 200 day simple moving average of $2.18. ProKidney has a 52-week low of $0.54 and a 52-week high of $7.13. The stock has a market cap of $501.19 million, a price-to-earnings ratio of -3.13 and a beta of 1.70.

ProKidney (NASDAQ:PROK) last posted its earnings results 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 during the quarter, compared to analyst estimates of $0.10 million. On average, analysts predict that ProKidney will post -0.72 EPS for the current year.

Hedge Funds Weigh In On ProKidney

Several hedge funds have recently made changes to their positions in PROK. Millennium Management LLC bought a new position in shares of ProKidney during the 3rd quarter worth approximately $4,734,000. Artia Global Partners LP bought a new position in shares of ProKidney during the 4th quarter worth approximately $4,118,000. JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 1,615,243 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of ProKidney by 578.6% during the 4th quarter. Renaissance Technologies LLC now owns 895,705 shares of the company’s stock worth $2,006,000 after acquiring an additional 763,705 shares in the last quarter. Finally, Jane Street Group LLC bought a new position in shares of ProKidney during the 2nd quarter worth approximately $350,000. 51.59% of the stock is owned by 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.