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

by · The Cerbat Gem

JPMorgan Chase & Co. initiated coverage on shares of ProKidney (NASDAQ:PROK – Free Report) in a research report sent to investors on Monday, MarketBeat reports. The firm issued a neutral rating on the stock.

PROK has been the subject of a number of other reports. Jefferies Financial Group reduced their price objective on shares of ProKidney from $15.00 to $6.00 and set a buy rating for the company in a report on Monday, June 10th. Guggenheim initiated coverage on ProKidney in a report on Tuesday, September 10th. They set a buy rating and a $6.00 price objective on the stock. Finally, Bank of America dropped their target price 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of Hold and a consensus target price of $4.50.

Check Out Our Latest Report on ProKidney

ProKidney Stock Down 5.5 %

ProKidney stock opened at $1.56 on Monday. The business has a 50 day moving average price of $2.24 and a two-hundred day moving average price of $2.40. ProKidney has a 12 month low of $1.12 and a 12 month high of $4.85. The stock has a market cap of $356.63 million, a price-to-earnings ratio of -2.64 and a beta of 1.10.

ProKidney (NASDAQ:PROK – Get Free Report) last issued its earnings results on Friday, August 9th. The company reported ($0.16) EPS for the quarter, beating analysts’ consensus estimates of ($0.17) by $0.01. On average, analysts expect that ProKidney will post -0.44 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Darin J. Weber sold 16,412 shares of ProKidney stock in a transaction that occurred on 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 transaction, the insider now owns 103,480 shares in the company, valued at $258,700. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 41.49% of the company’s stock.

Institutional Trading of ProKidney

A number of hedge funds and other institutional investors have recently made changes to their positions in PROK. Rhumbline Advisers grew its holdings in ProKidney by 8.8% during the 2nd quarter. Rhumbline Advisers now owns 76,190 shares of the company’s stock worth $187,000 after acquiring an additional 6,181 shares during the last quarter. Bank of New York Mellon Corp lifted its position in shares of ProKidney by 44.6% during the second quarter. Bank of New York Mellon Corp now owns 179,236 shares of the company’s stock worth $441,000 after purchasing an additional 55,266 shares in the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of ProKidney during the second quarter valued at approximately $60,000. AQR Capital Management LLC acquired a new stake in shares of ProKidney in the second quarter valued at approximately $50,000. Finally, Marshall Wace LLP bought a new position in ProKidney in the 2nd quarter worth approximately $124,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

ProKidney Company Profile

(Get Free Report)

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.

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