ProKidney (NASDAQ:PROK) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

ProKidney (NASDAQ:PROK) posted its quarterly earnings data on Monday. The company reported ($0.15) earnings per share for the quarter, missing the consensus estimate of ($0.14) by ($0.01), FiscalAI reports. The firm had revenue of $0.15 million for the quarter, compared to the consensus estimate of $0.19 million.

ProKidney Stock Performance

Shares of NASDAQ:PROK traded down $0.07 during mid-day trading on Wednesday, hitting $1.53. The stock had a trading volume of 74,241 shares, compared to its average volume of 1,003,937. The company’s 50 day moving average is $1.71 and its 200-day moving average is $1.88. ProKidney has a 12-month low of $1.45 and a 12-month high of $3.48. The company has a market cap of $463.66 million, a PE ratio of -2.79 and a beta of 1.66.

Analyst Ratings Changes

Several analysts recently commented on PROK shares. Weiss Ratings raised shares of ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. HC Wainwright reaffirmed a “buy” rating and issued a $12.00 price target on shares of ProKidney in a report on Monday, May 18th. Finally, Wall Street Zen downgraded ProKidney from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $12.00.

Institutional Trading of ProKidney

Large investors have recently added to or reduced their stakes in the company. Millennium Management LLC purchased a new stake in shares of ProKidney in the third quarter valued at $4,734,000. JPMorgan Chase & Co. grew its holdings 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 in the last quarter. Geode Capital Management LLC raised its position in ProKidney by 9.2% during the fourth quarter. Geode Capital Management LLC now owns 1,197,530 shares of the company’s stock valued at $2,684,000 after buying an additional 100,748 shares during the period. Renaissance Technologies LLC raised its position in 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 period. Finally, Bank of America Corp DE lifted its stake in ProKidney by 12.4% in the 2nd quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock worth $501,000 after acquiring an additional 93,322 shares in the last quarter. 51.59% of the stock is owned by institutional investors and hedge funds.

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.