ProKidney (NASDAQ:PROK) Posts Earnings Results, Misses Expectations By $0.01 EPS

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

ProKidney Trading Up 3.0%

Shares of PROK stock traded up $0.05 during mid-day trading on Monday, reaching $1.69. The stock had a trading volume of 1,231,482 shares, compared to its average volume of 998,348. ProKidney has a 1-year low of $1.45 and a 1-year high of $3.48. The firm has a market cap of $510.48 million, a price-to-earnings ratio of -3.19 and a beta of 1.66. The business’s fifty day moving average is $1.72 and its 200-day moving average is $1.89.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on PROK shares. Wall Street Zen cut ProKidney from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings upgraded ProKidney from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Friday, July 10th. Finally, HC Wainwright restated a “buy” rating and set a $12.00 price objective on shares of ProKidney in a report on Monday, May 18th. 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 company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $12.00.

Institutional Investors Weigh In On ProKidney

A number of large investors have recently bought and sold shares of the company. Cetera Investment Advisers purchased a new position in ProKidney during the 4th quarter worth approximately $28,000. AQR Capital Management LLC boosted its holdings in shares of ProKidney by 106.4% in the 1st quarter. AQR Capital Management LLC now owns 52,570 shares of the company’s stock valued at $46,000 after acquiring an additional 27,098 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in shares of ProKidney in the 4th quarter valued at $65,000. Hudson Bay Capital Management LP acquired a new stake in shares of ProKidney in the fourth quarter worth $101,000. Finally, Jefferies Financial Group Inc. acquired a new stake in shares of ProKidney in the third quarter worth $158,000. Hedge funds and other institutional investors own 51.59% of the company’s stock.

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.