ProKidney (NASDAQ:PROK) Trading 5.9% Higher – Here’s Why
by Sarita Garza · The Markets DailyProKidney Corp. (NASDAQ:PROK – Get Free Report)’s share price traded up 5.9% during mid-day trading on Monday . The stock traded as high as $1.70 and last traded at $1.6950. 520,708 shares changed hands during trading, a decline of 39% from the average session volume of 852,729 shares. The stock had previously closed at $1.60.
Analysts Set New Price Targets
A number of equities research analysts have recently commented on PROK shares. HC Wainwright began coverage on shares of ProKidney in a report on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price for the company. Wall Street Zen lowered ProKidney from a “hold” rating to a “sell” rating in a report on Saturday, March 21st. Weiss Ratings restated a “sell (d-)” rating on shares of ProKidney in a research report on Thursday, January 22nd. Finally, Jefferies Financial Group raised ProKidney to a “strong-buy” rating in a research note on Wednesday, March 18th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $7.40.
Read Our Latest Stock Report on PROK
ProKidney Price Performance
The stock has a 50 day moving average of $2.08 and a two-hundred day moving average of $2.40. The stock has a market capitalization of $526.84 million, a PE ratio of -3.36 and a beta of 1.75.
ProKidney (NASDAQ:PROK – Get Free Report) last released its earnings results on Wednesday, March 18th. The company reported ($0.14) EPS for the quarter, beating analysts’ consensus estimates of ($0.16) by $0.02. The business had revenue of $0.23 million during the quarter, compared to analyst estimates of $0.00 million. As a group, research analysts predict that ProKidney Corp. will post -0.57 earnings per share for the current fiscal year.
Institutional Trading of ProKidney
A number of institutional investors have recently added to or reduced their stakes in PROK. Cetera Investment Advisers acquired a new position in ProKidney during the fourth quarter worth about $28,000. Zullo Investment Group Inc. acquired a new stake in shares of ProKidney during the 3rd quarter valued at approximately $28,000. AQR Capital Management LLC boosted its stake in shares of ProKidney by 106.4% during the 1st 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. EntryPoint Capital LLC purchased a new stake in shares of ProKidney in the 4th quarter worth about $65,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of ProKidney in the 4th quarter worth about $101,000. Hedge funds and other 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.