ProKidney (NASDAQ:PROK) Posts Quarterly Earnings Results, Misses Estimates By $0.01 EPS

ProKidney (NASDAQ:PROK) released its quarterly earnings data on Monday. The company reported ($0.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), FiscalAI reports. The company had revenue of $0.15 million for the quarter, compared to analyst estimates of $0.19 million.

ProKidney Stock Performance

ProKidney stock traded up $0.05 during midday trading on Monday, reaching $1.69. The stock had a trading volume of 1,229,470 shares, compared to its average volume of 997,319. The firm’s fifty day simple moving average is $1.72 and its 200-day simple moving average is $1.89. ProKidney has a 1-year low of $1.45 and a 1-year high of $3.48. The stock has a market capitalization of $510.48 million, a P/E ratio of -3.19 and a beta of 1.66.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. Weiss Ratings raised ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Wall Street Zen cut ProKidney from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price objective on shares of ProKidney in a research report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Cetera Investment Advisers acquired a new stake in ProKidney in the 4th quarter valued at $28,000. EntryPoint Capital LLC bought a new position in shares of ProKidney in the 4th quarter valued at about $65,000. Hudson Bay Capital Management LP acquired a new stake in shares of ProKidney in the fourth quarter valued at about $101,000. AQR Capital Management LLC raised its holdings in ProKidney by 106.4% during the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after acquiring an additional 27,098 shares in the last quarter. Finally, Jefferies Financial Group Inc. bought a new stake in ProKidney during the third quarter worth about $158,000. 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.