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

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

ProKidney Stock Performance

Shares of ProKidney stock opened at $2.07 on Thursday. ProKidney has a one year low of $1.12 and a one year high of $4.44. The company has a market cap of $599.62 million, a P/E ratio of -3.76 and a beta of 1.11. The firm has a fifty day moving average of $1.96 and a two-hundred day moving average of $2.39.

Insider Activity

In related news, insider Darin J. Weber sold 16,412 shares of the firm’s 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 sale, the insider now owns 103,480 shares in the company, valued at $258,700. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 41.49% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on the stock. Guggenheim assumed coverage on shares of ProKidney in a research report on Tuesday, September 10th. They set a “buy” rating and a $6.00 target price on the stock. Bank of America dropped their price objective 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 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 issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target 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.