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

ProKidney (NASDAQ:PROK) posted its earnings results on Tuesday. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14), Zacks reports.

ProKidney Price Performance

NASDAQ PROK traded up $0.08 during trading on Thursday, hitting $2.15. The company’s stock had a trading volume of 444,063 shares, compared to its average volume of 712,360. The company has a market cap of $622.79 million, a PE ratio of -3.91 and a beta of 1.11. ProKidney has a fifty-two week low of $1.12 and a fifty-two week high of $4.44. The business’s 50 day simple moving average is $1.96 and its 200-day simple moving average is $2.39.

Insider Activity at ProKidney

In other news, insider Darin J. Weber sold 16,412 shares of the business’s stock in a transaction dated Thursday, September 19th. The stock was 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 $258,700. The trade was a 13.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 41.49% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PROK has been the topic of several recent research reports. Guggenheim started coverage on 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 reduced their target price on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 4th. Finally, JPMorgan Chase & Co. started coverage on shares of ProKidney in a research note on Monday, September 30th. They set a “neutral” rating for the company. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, ProKidney presently has an average rating of “Hold” and a consensus target price of $4.50.

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.