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

Shares of ProKidney Corp. (NASDAQ:PROK) have earned a consensus rating of “Moderate Buy” from the eight analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, one has given a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $7.40.

PROK has been the subject of several research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research report on Thursday, January 22nd. HC Wainwright began coverage on shares of ProKidney in a research report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price target on the stock. Wall Street Zen lowered shares of ProKidney from a “hold” rating to a “sell” rating in a research note on Saturday, March 21st. Finally, Jefferies Financial Group upgraded shares of ProKidney to a “strong-buy” rating in a report on Wednesday, March 18th.

ProKidney Stock Down 9.6%

NASDAQ:PROK opened at $1.60 on Friday. ProKidney has a 52 week low of $0.46 and a 52 week high of $7.13. The stock’s fifty day moving average is $2.10 and its two-hundred day moving average is $2.41. The stock has a market capitalization of $481.33 million, a price-to-earnings ratio of -3.08 and a beta of 1.75.

ProKidney (NASDAQ:PROK) last issued its quarterly earnings data on Wednesday, March 18th. The company reported ($0.14) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The firm had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.00 million. On average, sell-side analysts expect that ProKidney will post -0.57 EPS for the current fiscal year.

Hedge Funds Weigh In On ProKidney

Several institutional investors have recently modified their holdings of the business. Virtus Investment Advisers LLC purchased a new stake in shares of ProKidney during the fourth quarter worth $270,000. Artia Global Partners LP purchased a new position in ProKidney in the fourth quarter valued at $4,118,000. Cetera Investment Advisers acquired a new position in ProKidney during the 4th quarter worth $28,000. Amundi purchased a new stake in ProKidney during the 4th quarter worth about $610,000. Finally, ExodusPoint Capital Management LP increased its holdings in ProKidney by 22.8% during the 4th quarter. ExodusPoint Capital Management LP now owns 128,853 shares of the company’s stock worth $289,000 after purchasing an additional 23,924 shares during the period. Institutional investors and hedge funds own 51.59% of the company’s stock.

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.