ProKidney (NASDAQ:PROK) Releases Quarterly Earnings Results, Beats Expectations By $0.03 EPS

ProKidney (NASDAQ:PROK) released its quarterly earnings data on Wednesday. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.16) by $0.03, FiscalAI reports. The business had revenue of $0.23 million during the quarter, compared to the consensus estimate of $0.00 million.

ProKidney Price Performance

Shares of PROK traded down $0.05 on Wednesday, reaching $2.08. The company’s stock had a trading volume of 363,447 shares, compared to its average volume of 832,372. The stock’s 50 day simple moving average is $2.18 and its two-hundred day simple moving average is $2.43. The stock has a market capitalization of $625.73 million, a P/E ratio of -3.78 and a beta of 1.75. ProKidney has a 12-month low of $0.46 and a 12-month high of $7.13.

Institutional Trading of ProKidney

Hedge funds have recently bought and sold shares of the stock. Barclays PLC grew its position in shares of ProKidney by 17,000,000.0% during the fourth quarter. Barclays PLC now owns 170,001 shares of the company’s stock worth $381,000 after purchasing an additional 170,000 shares in the last quarter. Jane Street Group LLC purchased a new position in ProKidney in the 2nd quarter worth approximately $350,000. ExodusPoint Capital Management LP lifted its holdings in ProKidney by 22.8% in 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 in the last quarter. OMERS ADMINISTRATION Corp bought a new position in ProKidney in the 4th quarter worth approximately $279,000. Finally, Marshall Wace LLP bought a new position in ProKidney in the 2nd quarter worth approximately $274,000. Institutional investors own 51.59% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on PROK shares. HC Wainwright assumed coverage on shares of ProKidney in a report on Tuesday, December 16th. They set a “buy” rating and a $12.00 price target on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a report on Thursday, January 22nd. Four analysts have rated the stock with a Buy rating, one has given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $7.40.

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.