ProKidney (NASDAQ:PROK) Issues Quarterly Earnings Results

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

ProKidney Stock Up 2.9 %

ProKidney stock traded up $0.06 during trading hours on Wednesday, hitting $2.11. 199,945 shares of the stock traded hands, 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 firm’s 50 day moving average price is $1.96 and its 200-day moving average price is $2.39.

Insider Buying and Selling

In related news, insider Darin J. Weber sold 16,412 shares of ProKidney stock in a transaction dated Thursday, September 19th. The stock was 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 in the company, valued at approximately $258,700. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 41.49% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have weighed in on PROK shares. Guggenheim started 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. JPMorgan Chase & Co. assumed coverage on ProKidney in a research note on Monday, September 30th. They issued a “neutral” rating on the stock. Finally, Bank of America dropped their price target on ProKidney from $4.00 to $3.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company 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.