ProKidney (NASDAQ:PROK) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. assumed coverage on shares of ProKidney (NASDAQ:PROK) in a report released on Monday morning, Marketbeat Ratings reports. The brokerage issued a neutral rating on the stock.

Other analysts have also issued research reports about the stock. Guggenheim started coverage on shares of ProKidney in a report on Tuesday, September 10th. They set a buy rating and a $6.00 target price for the company. Bank of America reduced their target price on ProKidney from $4.00 to $3.00 and set a neutral rating on the stock in a report on Wednesday, September 4th. Finally, Jefferies Financial Group cut their price target on shares of ProKidney from $15.00 to $6.00 and set a buy rating on the stock in a research report on Monday, June 10th. Three analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to MarketBeat, ProKidney presently has a consensus rating of Hold and an average target price of $4.50.

ProKidney Stock Down 3.5 %

PROK stock opened at $1.65 on Monday. ProKidney has a twelve month low of $1.12 and a twelve month high of $4.85. The company has a market cap of $377.27 million, a P/E ratio of -2.91 and a beta of 1.10. The business has a fifty day moving average of $2.24 and a 200-day moving average of $2.41.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings data on Friday, August 9th. The company reported ($0.16) earnings per share for the quarter, topping the consensus estimate of ($0.17) by $0.01. As a group, equities research analysts anticipate that ProKidney will post -0.44 earnings per share for the current fiscal year.

Insider Activity

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the firm’s stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $2.50, for a total transaction of $41,030.00. Following the sale, the insider now directly owns 103,480 shares in the company, valued at approximately $258,700. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 41.49% of the stock is currently owned by company insiders.

Institutional Trading of ProKidney

Hedge funds and other institutional investors have recently modified their holdings of the company. AQR Capital Management LLC bought a new position in shares of ProKidney during the second quarter worth about $50,000. The Manufacturers Life Insurance Company bought a new stake in shares of ProKidney in the second quarter worth $60,000. Susquehanna Fundamental Investments LLC acquired a new position in ProKidney during the second quarter worth $106,000. Marshall Wace LLP bought a new position in ProKidney in the second quarter valued at $124,000. Finally, Rhumbline Advisers increased its stake in ProKidney by 8.8% in the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock valued at $187,000 after buying an additional 6,181 shares during the last quarter. Institutional investors and hedge funds own 51.59% of the company’s stock.

About ProKidney

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.