ProKidney (NASDAQ:PROK) Coverage Initiated at JPMorgan Chase & Co.

Analysts at JPMorgan Chase & Co. began coverage on shares of ProKidney (NASDAQ:PROK) in a research report issued to clients and investors on Monday, Briefing.com reports. The brokerage set a “neutral” rating on the stock.

Other equities analysts have also recently issued research reports about the company. Bank of America lowered 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. Jefferies Financial Group decreased their price objective on ProKidney from $15.00 to $6.00 and set a “buy” rating for the company in a report on Monday, June 10th. Finally, Guggenheim initiated coverage on ProKidney in a report on Tuesday, September 10th. They issued a “buy” rating and a $6.00 price objective for the company. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $4.50.

ProKidney Trading Down 8.8 %

PROK stock opened at $1.86 on Monday. The stock has a 50-day moving average price of $2.26 and a two-hundred day moving average price of $2.40. The stock has a market cap of $426.58 million, a PE ratio of -3.26 and a beta of 1.10. ProKidney has a 1 year low of $1.12 and a 1 year high of $4.98.

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

Insider Activity at ProKidney

In related news, insider Darin J. Weber sold 16,412 shares of the firm’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 completion of the sale, the insider now directly owns 103,480 shares in the company, valued at approximately $258,700. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 41.49% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On ProKidney

Several hedge funds have recently bought and sold shares of PROK. Bank of New York Mellon Corp lifted its position in 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 acquiring an additional 55,266 shares during the last quarter. Marshall Wace LLP acquired a new stake in ProKidney during the second quarter worth approximately $124,000. Susquehanna Fundamental Investments LLC acquired a new stake in ProKidney during the second quarter worth approximately $106,000. The Manufacturers Life Insurance Company acquired a new stake in ProKidney during the second quarter worth approximately $60,000. Finally, AQR Capital Management LLC acquired a new stake in ProKidney during the second quarter worth approximately $50,000. 51.59% of the stock is currently owned by institutional investors and hedge funds.

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.