ProKidney (NASDAQ:PROK) Upgraded by Wall Street Zen to “Sell” Rating

Wall Street Zen upgraded shares of ProKidney (NASDAQ:PROK) from a strong sell rating to a sell rating in a report issued on Saturday morning.

A number of other equities research analysts also recently issued reports on PROK. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research report on Thursday, January 22nd. Jefferies Financial Group upgraded ProKidney to a “strong-buy” rating in a research report on Wednesday, March 18th. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, ProKidney has an average rating of “Moderate Buy” and an average price target of $7.40.

ProKidney Price Performance

ProKidney stock opened at $2.18 on Friday. ProKidney has a one year low of $0.54 and a one year high of $7.13. The business has a fifty day moving average price of $2.05 and a 200-day moving average price of $2.33. The firm has a market capitalization of $658.18 million, a P/E ratio of -4.19 and a beta of 1.84.

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

Institutional Investors Weigh In On ProKidney

Large investors have recently added to or reduced their stakes in the company. Zullo Investment Group Inc. purchased a new stake in ProKidney during the third quarter valued at about $28,000. Cetera Investment Advisers purchased a new stake in ProKidney during the fourth quarter valued at about $28,000. EntryPoint Capital LLC purchased a new stake in ProKidney during the fourth quarter valued at about $65,000. Hudson Bay Capital Management LP purchased a new stake in ProKidney during the fourth quarter valued at about $101,000. Finally, AQR Capital Management LLC raised its position in 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 purchasing an additional 27,098 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

About ProKidney

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.