ProKidney (NASDAQ:PROK) Releases Earnings Results, Meets Expectations

ProKidney (NASDAQ:PROK) posted its quarterly earnings data on Tuesday. The company reported ($0.14) EPS for the quarter, hitting the consensus estimate of ($0.14), Zacks reports.

ProKidney Trading Up 4.8 %

PROK traded up $0.10 during trading hours on Thursday, hitting $2.17. The company’s stock had a trading volume of 87,129 shares, compared to its average volume of 710,743. ProKidney has a 12 month low of $1.12 and a 12 month high of $4.44. The business’s 50-day moving average price is $1.96 and its 200-day moving average price is $2.39. The stock has a market cap of $628.58 million, a price-to-earnings ratio of -3.76 and a beta of 1.11.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on PROK. Guggenheim started coverage on shares of ProKidney in a report on Tuesday, September 10th. They set a “buy” rating and a $6.00 price target on the stock. Bank of America decreased their price target on ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. assumed coverage on ProKidney in a report on Monday, September 30th. They issued a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.50.

Insiders Place Their Bets

In related news, insider Darin J. Weber sold 16,412 shares of the stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $2.50, for a total value of $41,030.00. Following the completion of the transaction, the insider now owns 103,480 shares of the company’s stock, valued at approximately $258,700. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 41.49% of the company’s stock.

ProKidney Company Profile

ProKidney Corp., a clinical-stage biotechnology company, provides transformative proprietary cell therapy platform for treating various chronic kidney diseases in the United States. The company's lead product is Renal Autologous Cell Therapy (REACT), an autologous homologous cell admixture, which has completed Phase I clinical trial for REACT in patients with congenital anomalies of the Kidney and Urinary Tract (CAKUT), as well as in Phase III and Phase II clinical trials for the treatment of moderate to severe diabetic kidney disease.