ProKidney (NASDAQ:PROK) Posts Earnings Results, Hits Expectations

ProKidney (NASDAQ:PROK) issued its earnings results on Tuesday. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14), Zacks reports.

ProKidney Stock Performance

Shares of ProKidney stock traded up $0.08 on Thursday, hitting $2.15. 444,063 shares of the company’s stock were exchanged, compared to its average volume of 712,360. The stock has a market capitalization of $622.79 million, a PE ratio of -3.91 and a beta of 1.11. ProKidney has a 1 year low of $1.12 and a 1 year high of $4.44. The company has a 50-day simple moving average of $1.96 and a 200-day simple moving average of $2.39.

Wall Street Analysts Forecast Growth

PROK has been the topic of a number of recent analyst reports. Bank of America cut their price target on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a report on Wednesday, September 4th. Guggenheim started coverage on ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 target price on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of ProKidney in a report on Monday, September 30th. They set a “neutral” rating on the stock. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, ProKidney currently has a consensus rating of “Hold” and a consensus target price of $4.50.

Insider Buying and Selling at ProKidney

In related news, insider Darin J. Weber sold 16,412 shares of ProKidney stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $2.50, for a total transaction of $41,030.00. Following the sale, the insider now owns 103,480 shares of the company’s stock, valued at approximately $258,700. This trade represents a 13.69 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 41.49% of the stock is currently owned by corporate insiders.

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.