ProKidney (NASDAQ:PROK) Raised to “Strong-Buy” at Jefferies Financial Group

ProKidney (NASDAQ:PROK) was upgraded by analysts at Jefferies Financial Group to a “strong-buy” rating in a research report issued on Wednesday,Zacks.com reports.

A number of other analysts have also weighed in on PROK. Weiss Ratings reissued a “sell (d-)” rating on shares of ProKidney in a research note on Thursday, January 22nd. HC Wainwright initiated coverage on shares of ProKidney in a research note on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, ProKidney presently has a consensus rating of “Moderate Buy” and an average price target of $7.40.

ProKidney Price Performance

PROK opened at $2.08 on Wednesday. The stock’s 50 day simple moving average is $2.17 and its 200 day simple moving average is $2.43. The firm has a market cap of $625.73 million, a price-to-earnings ratio of -3.78 and a beta of 1.75. ProKidney has a 1 year low of $0.46 and a 1 year high of $7.13.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Virtus Investment Advisers LLC purchased a new stake in ProKidney in the 4th quarter worth approximately $270,000. Artia Global Partners LP bought a new stake in shares of ProKidney in the 4th quarter worth approximately $4,118,000. Cetera Investment Advisers purchased a new position in shares of ProKidney during the fourth quarter valued at approximately $28,000. Amundi purchased a new position in shares of ProKidney during the fourth quarter valued at approximately $610,000. Finally, ExodusPoint Capital Management LP raised its holdings in shares of ProKidney by 22.8% during the fourth quarter. ExodusPoint Capital Management LP now owns 128,853 shares of the company’s stock valued at $289,000 after acquiring an additional 23,924 shares in the last quarter. 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.