ProKidney (NASDAQ:PROK) Releases Earnings Results

ProKidney (NASDAQ:PROK) announced its quarterly earnings data on Wednesday. The company reported ($0.14) earnings per share for the quarter, topping the consensus estimate of ($0.16) by $0.02, Zacks reports. The business had revenue of $0.23 million for the quarter, compared to the consensus estimate of $0.00 million.

ProKidney Price Performance

Shares of NASDAQ PROK opened at $1.95 on Friday. The company has a 50 day simple moving average of $2.16 and a 200 day simple moving average of $2.43. ProKidney has a 1 year low of $0.46 and a 1 year high of $7.13. The firm has a market cap of $586.62 million, a PE ratio of -3.75 and a beta of 1.75.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on PROK. HC Wainwright started 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. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a report on Thursday, January 22nd. Finally, Jefferies Financial Group upgraded ProKidney to a “strong-buy” rating in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, ProKidney currently has an average rating of “Moderate Buy” and a consensus target price of $7.40.

Hedge Funds Weigh In On ProKidney

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its stake in shares of ProKidney by 106.4% during the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock valued at $46,000 after acquiring an additional 27,098 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in ProKidney by 3,024.9% in the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock valued at $988,000 after purchasing an additional 1,615,243 shares during the period. Marshall Wace LLP acquired a new stake in ProKidney in the second quarter valued at $274,000. Jane Street Group LLC bought a new position in ProKidney during the 2nd quarter worth $350,000. Finally, Bank of America Corp DE raised its position in ProKidney by 12.4% during the 2nd quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock worth $501,000 after purchasing an additional 93,322 shares during the last quarter. 51.59% of the stock is currently 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.