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

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

ProKidney Stock Up 2.4 %

ProKidney stock traded up $0.05 during midday trading on Wednesday, hitting $2.10. 204,477 shares of the stock were exchanged, compared to its average volume of 712,501. ProKidney has a 52-week low of $1.12 and a 52-week high of $4.44. The business’s 50-day moving average price is $1.96 and its 200-day moving average price is $2.39.

Wall Street Analysts Forecast Growth

A number of analysts have commented on PROK shares. JPMorgan Chase & Co. assumed coverage on ProKidney in a research report on Monday, September 30th. They issued a “neutral” rating for the company. Guggenheim initiated coverage on shares of ProKidney in a research report on Tuesday, September 10th. They issued a “buy” rating and a $6.00 target price for the company. Finally, Bank of America cut their price objective on ProKidney from $4.00 to $3.00 and set a “neutral” rating for the company in a report on Wednesday, September 4th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $4.50.

Insider Buying and Selling

In other ProKidney news, insider Darin J. Weber sold 16,412 shares of the business’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 transaction, the insider now directly owns 103,480 shares in the company, valued at $258,700. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 41.49% of the stock is owned by corporate insiders.

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.