ProKidney (NASDAQ:PROK) Announces Quarterly Earnings Results, Hits Estimates

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

ProKidney Stock Performance

Shares of PROK stock traded up $0.06 on Wednesday, reaching $2.11. The stock had a trading volume of 199,945 shares, compared to its average volume of 712,481. ProKidney has a 1 year low of $1.12 and a 1 year high of $4.44. The company has a 50 day simple moving average of $1.96 and a 200 day simple moving average of $2.39.

Insider Buying and Selling at ProKidney

In other news, insider Darin J. Weber sold 16,412 shares of the company’s stock in a transaction on 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 sale, the insider now directly owns 103,480 shares in the company, valued at $258,700. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 41.49% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PROK shares. JPMorgan Chase & Co. started coverage on ProKidney in a research report on Monday, September 30th. They issued a “neutral” rating on the stock. Guggenheim started coverage on 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 decreased 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 equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock 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.