ProKidney (NASDAQ:PROK) Issues Quarterly Earnings Results

ProKidney (NASDAQ:PROK) posted its earnings results on Monday. The company reported ($0.15) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.14) by ($0.01), FiscalAI reports. The firm had revenue of $0.15 million during the quarter, compared to the consensus estimate of $0.19 million.

ProKidney Stock Up 3.0%

Shares of PROK opened at $1.69 on Tuesday. ProKidney has a 12-month low of $1.45 and a 12-month high of $3.48. The business has a 50-day simple moving average of $1.72 and a two-hundred day simple moving average of $1.89. The stock has a market cap of $510.48 million, a PE ratio of -3.19 and a beta of 1.66.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. Wall Street Zen downgraded ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. HC Wainwright restated a “buy” rating and set a $12.00 target price on shares of ProKidney in a research note on Monday, May 18th. Finally, Weiss Ratings raised ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a report on Friday, July 10th. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, ProKidney presently has an average rating of “Moderate Buy” and a consensus target price of $12.00.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Cetera Investment Advisers bought a new position in shares of ProKidney during the fourth quarter valued at $28,000. AQR Capital Management LLC increased 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 valued at $46,000 after purchasing an additional 27,098 shares during the period. EntryPoint Capital LLC acquired a new stake in ProKidney in the fourth quarter valued at $65,000. Hudson Bay Capital Management LP bought a new position in ProKidney during the 4th quarter worth $101,000. Finally, Jefferies Financial Group Inc. bought a new position in ProKidney during the 3rd quarter worth $158,000. 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.