ProKidney Corp. (NASDAQ:PROK) Given Average Rating of “Hold” by Brokerages

ProKidney Corp. (NASDAQ:PROK) has been assigned an average rating of “Hold” from the six analysts that are presently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, one has issued a hold recommendation and three have given a buy recommendation to the company. The average 12 month price objective among analysts that have issued ratings on the stock in the last year is $6.25.

Several brokerages recently weighed in on PROK. Guggenheim reissued a “buy” rating and issued a $7.00 price objective (up previously from $6.00) on shares of ProKidney in a report on Monday, July 14th. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a report on Saturday, September 27th. Citigroup reissued a “buy” rating and issued a $9.00 price objective (up previously from $6.00) on shares of ProKidney in a report on Wednesday, July 9th. UBS Group lifted their price objective on ProKidney from $4.00 to $8.00 and gave the stock a “buy” rating in a report on Tuesday, July 15th. Finally, Zacks Research lowered ProKidney from a “strong-buy” rating to a “hold” rating in a report on Monday, August 18th.

Insiders Place Their Bets

In other ProKidney news, insider Darin J. Weber sold 103,480 shares of ProKidney stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $3.02, for a total transaction of $312,509.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 41.49% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in PROK. BNP Paribas Financial Markets purchased a new position in ProKidney during the 4th quarter valued at about $110,000. Bank of America Corp DE grew its holdings in shares of ProKidney by 3.2% during the fourth quarter. Bank of America Corp DE now owns 539,232 shares of the company’s stock worth $911,000 after purchasing an additional 16,538 shares in the last quarter. Nuveen Asset Management LLC grew its holdings in shares of ProKidney by 17.3% during the fourth quarter. Nuveen Asset Management LLC now owns 266,366 shares of the company’s stock worth $450,000 after purchasing an additional 39,216 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of ProKidney by 57.3% during the fourth quarter. ProShare Advisors LLC now owns 30,879 shares of the company’s stock worth $52,000 after purchasing an additional 11,250 shares in the last quarter. Finally, Hennion & Walsh Asset Management Inc. grew its holdings in shares of ProKidney by 48.5% during the first quarter. Hennion & Walsh Asset Management Inc. now owns 844,277 shares of the company’s stock worth $740,000 after purchasing an additional 275,630 shares in the last quarter. Hedge funds and other institutional investors own 51.59% of the company’s stock.

ProKidney Stock Performance

Shares of PROK opened at $2.74 on Friday. The business has a 50-day moving average of $2.54 and a 200 day moving average of $1.67. ProKidney has a fifty-two week low of $0.46 and a fifty-two week high of $7.13. The firm has a market cap of $806.33 million, a P/E ratio of -4.81 and a beta of 1.72.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Tuesday, August 12th. The company reported ($0.13) earnings per share for the quarter, topping the consensus estimate of ($0.14) by $0.01. The firm had revenue of $0.22 million during the quarter. As a group, research analysts predict that ProKidney will post -0.57 earnings per share for the current fiscal year.

About ProKidney

ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases in the United States. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture, which has completed Phase I clinical trial for REACT in patients with congenital anomalies of the Kidney and Urinary Tract (CAKUT), as well as in Phase III and Phase II clinical trials for the treatment of moderate to severe diabetic kidney disease.