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

ProKidney (NASDAQ:PROK) announced its earnings results on Tuesday. The company reported ($0.14) earnings per share for the quarter, hitting the consensus estimate of ($0.14), Zacks reports.

ProKidney Stock Up 3.9 %

NASDAQ:PROK opened at $2.15 on Friday. ProKidney has a fifty-two week low of $1.12 and a fifty-two week high of $4.44. The firm’s fifty day simple moving average is $1.96 and its 200-day simple moving average is $2.39.

Insider Buying and Selling at ProKidney

In related news, insider Darin J. Weber sold 16,412 shares of the 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 sale, the insider now directly owns 103,480 shares of the company’s stock, valued at approximately $258,700. This represents a 13.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 41.49% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PROK has been the topic of several analyst reports. Guggenheim began coverage on ProKidney in a research note on Tuesday, September 10th. They issued a “buy” rating and a $6.00 target price on the stock. Bank of America lowered their price objective on shares of ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Finally, JPMorgan Chase & Co. began coverage on shares of ProKidney in a research report on Monday, September 30th. They set a “neutral” rating for the company. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, 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.