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

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

ProKidney Stock Performance

PROK traded up $0.05 during trading on Monday, reaching $1.69. 1,229,470 shares of the company’s stock were exchanged, compared to its average volume of 997,319. The company’s fifty day moving average price is $1.72 and its 200-day moving average price is $1.89. The firm has a market capitalization of $510.48 million, a PE ratio of -3.19 and a beta of 1.66. ProKidney has a fifty-two week low of $1.45 and a fifty-two week high of $3.48.

Analyst Ratings Changes

PROK has been the topic of several research reports. Weiss Ratings raised ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. Wall Street Zen lowered ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Finally, HC Wainwright reiterated a “buy” rating and issued a $12.00 price target on shares of ProKidney in a report on Monday, May 18th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, ProKidney has an average rating of “Moderate Buy” and an average price target of $12.00.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in PROK. Millennium Management LLC acquired a new stake in shares of ProKidney during the third quarter worth $4,734,000. JPMorgan Chase & Co. boosted its holdings in ProKidney by 3,024.9% during the second quarter. JPMorgan Chase & Co. now owns 1,668,642 shares of the company’s stock worth $988,000 after buying an additional 1,615,243 shares during the last quarter. Geode Capital Management LLC grew its position in shares of ProKidney by 9.2% during the 4th quarter. Geode Capital Management LLC now owns 1,197,530 shares of the company’s stock worth $2,684,000 after buying an additional 100,748 shares during the period. Renaissance Technologies LLC increased its stake in shares of ProKidney by 578.6% in the 4th quarter. Renaissance Technologies LLC now owns 895,705 shares of the company’s stock valued at $2,006,000 after acquiring an additional 763,705 shares during the last quarter. Finally, Bank of America Corp DE raised its position in shares of ProKidney by 12.4% in the 2nd quarter. Bank of America Corp DE now owns 846,154 shares of the company’s stock valued at $501,000 after acquiring an additional 93,322 shares during the period. 51.59% of the stock is currently owned by institutional investors.

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.