ProKidney (NASDAQ:PROK) Posts Quarterly Earnings Results, Misses Expectations By $0.04 EPS

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

ProKidney Stock Performance

NASDAQ PROK 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 company has a market capitalization of $347.67 million, a PE ratio of -2.09 and a beta of 1.90. The company’s 50-day moving average price is $1.56 and its two-hundred day moving average price is $1.78. ProKidney has a 12 month low of $0.87 and a 12 month high of $2.65.

Insiders Place Their Bets

In other news, Director Brian Pereira sold 229,338 shares of the firm’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $1.37, for a total transaction of $314,193.06. Following the completion of the transaction, the director directly owned 445,897 shares of the company’s stock, valued at $610,878.89. This trade represents a 33.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last three months, insiders sold 757,164 shares of company stock worth $1,067,315. Corporate insiders own 39.83% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on PROK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research note on Tuesday, October 6th. Citigroup lowered their target price on ProKidney to $8.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, ProKidney currently has a consensus rating of “Moderate Buy” and a consensus 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.