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

ProKidney (NASDAQ:PROK) released its earnings results on Thursday. The company reported ($0.17) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.16) by ($0.01), FiscalAI reports. The business had revenue of $0.17 million for the quarter, compared to analyst estimates of $0.12 million.

ProKidney Stock Performance

Shares of NASDAQ PROK traded down $0.12 during mid-day trading on Friday, reaching $1.03. 757,214 shares of the company’s stock were exchanged, compared to its average volume of 1,134,227. The company’s 50-day moving average is $1.55 and its 200-day moving average is $1.77. The firm has a market capitalization of $312.90 million, a price-to-earnings ratio of -1.88 and a beta of 1.90. ProKidney has a 52-week low of $0.87 and a 52-week high of $2.65.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on PROK. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of ProKidney in a research note on Tuesday, October 6th. Citigroup cut their price target on shares of ProKidney to $8.00 and set a “buy” rating for the company in a report on Wednesday, October 28th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $10.00.

Insiders Place Their Bets

In related news, Director Brian Pereira sold 229,338 shares of ProKidney stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $1.37, for a total value of $314,193.06. Following the completion of the sale, the director owned 445,897 shares in the company, valued at approximately $610,878.89. This trade represents a 33.96% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders have sold a total of 757,164 shares of company stock worth $1,067,315 over the last ninety days. Company insiders own 39.83% of the company’s stock.

About ProKidney

ProKidney is a clinical-stage biotechnology company developing cell therapies for people with chronic kidney disease. The company’s work focuses on treatments intended to help preserve kidney function, particularly in patients with diabetic kidney disease. Its lead investigational product, REACT (REnal Autologous Cell Therapy), is made from cells collected from a patient’s own kidney tissue. The cells are processed and delivered back to the patient’s kidney. REACT is being evaluated in clinical trials and is not an approved treatment.