Analysts Set ProKidney Corp. (NASDAQ:PROK) Target Price at $7.40

Shares of ProKidney Corp. (NASDAQ:PROK) have earned an average rating of “Hold” from the seven analysts that are currently covering the firm, Marketbeat reports. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $7.40.

Several research firms recently issued reports on PROK. HC Wainwright started coverage on ProKidney in a research note on Tuesday, December 16th. They issued a “buy” rating and a $12.00 target price on the stock. Weiss Ratings reiterated a “sell (d-)” rating on shares of ProKidney in a research report on Thursday, January 22nd.

ProKidney Stock Performance

Shares of ProKidney stock opened at $2.04 on Friday. The company’s 50 day moving average price is $2.26 and its 200-day moving average price is $2.55. ProKidney has a 52-week low of $0.46 and a 52-week high of $7.13. The stock has a market capitalization of $613.69 million, a price-to-earnings ratio of -3.71 and a beta of 1.79.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings results on Monday, November 10th. The company reported ($0.12) earnings per share for the quarter, meeting the consensus estimate of ($0.12). The firm had revenue of $0.22 million for the quarter, compared to analysts’ expectations of $0.04 million. As a group, equities research analysts forecast that ProKidney will post -0.57 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Brian Jg Pereira sold 502,136 shares of ProKidney stock in a transaction on Thursday, November 13th. The shares were sold at an average price of $2.37, for a total value of $1,190,062.32. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. 41.49% of the stock is owned by insiders.

Institutional Investors Weigh In On ProKidney

Several institutional investors and hedge funds have recently modified their holdings of the stock. Zullo Investment Group Inc. bought a new stake in shares of ProKidney during the 3rd quarter valued at about $28,000. AQR Capital Management LLC lifted its holdings in ProKidney by 106.4% in the first quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock worth $46,000 after buying an additional 27,098 shares during the period. FNY Investment Advisers LLC boosted its position in ProKidney by 590,620.0% during the 4th quarter. FNY Investment Advisers LLC now owns 59,052 shares of the company’s stock valued at $132,000 after acquiring an additional 59,062 shares in the last quarter. Catalyst Funds Management Pty Ltd purchased a new position in shares of ProKidney during the 2nd quarter worth approximately $36,000. Finally, Jefferies Financial Group Inc. purchased a new position in shares of ProKidney during the 3rd quarter worth approximately $158,000. 51.59% of the stock is owned by hedge funds and other 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.