ProKidney Corp. (NASDAQ:PROK) Receives $7.40 Average Price Target from Brokerages

ProKidney Corp. (NASDAQ:PROK) has been assigned a consensus recommendation of “Hold” from the seven analysts that are currently covering the company, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $7.40.

Several analysts have recently issued reports on the stock. HC Wainwright assumed coverage on shares of ProKidney in a research note on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price for the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research report on Thursday, January 22nd.

Hedge Funds Weigh In On ProKidney

Institutional investors have recently modified their holdings of the business. Millennium Management LLC bought a new stake in ProKidney during the third quarter worth $4,734,000. Artia Global Partners LP bought a new stake in shares of ProKidney during the 4th quarter worth $4,118,000. JPMorgan Chase & Co. raised 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 purchasing an additional 1,615,243 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of ProKidney by 63.5% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 1,503,886 shares of the company’s stock worth $3,369,000 after buying an additional 583,983 shares during the last quarter. Finally, Geode Capital Management LLC grew 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. 51.59% of the stock is owned by institutional investors.

ProKidney Trading Up 0.4%

Shares of ProKidney stock opened at $2.24 on Wednesday. The company has a market capitalization of $673.86 million, a P/E ratio of -4.07 and a beta of 1.78. The stock has a fifty day simple moving average of $2.18 and a 200 day simple moving average of $2.44. ProKidney has a 12-month low of $0.46 and a 12-month high of $7.13.

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.