ProKidney (NASDAQ:PROK) Trading 8.7% Higher – Still a Buy?

ProKidney Corp. (NASDAQ:PROK) shares traded up 8.7% on Tuesday . The stock traded as high as $1.80 and last traded at $1.81. 286,332 shares were traded during mid-day trading, a decline of 48% from the average session volume of 553,330 shares. The stock had previously closed at $1.66.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. started coverage on ProKidney in a report on Monday, September 30th. They issued a “neutral” rating on the stock. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $4.50.

ProKidney Stock Up 7.8 %

The stock has a market cap of $522.07 million, a price-to-earnings ratio of -3.25 and a beta of 1.32. The company’s 50-day moving average is $1.80 and its 200-day moving average is $1.99.

ProKidney (NASDAQ:PROK) last announced its quarterly earnings results on Tuesday, November 12th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). On average, research analysts forecast that ProKidney Corp. will post -0.57 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of PROK. XTX Topco Ltd bought a new stake in shares of ProKidney during the 3rd quarter valued at about $41,000. Intech Investment Management LLC bought a new position in ProKidney during the third quarter valued at $46,000. AQR Capital Management LLC purchased a new stake in shares of ProKidney during the second quarter worth $50,000. The Manufacturers Life Insurance Company purchased a new stake in ProKidney in the 2nd quarter worth approximately $60,000. Finally, Castleview Partners LLC bought a new position in ProKidney in the 3rd quarter worth about $63,000. Institutional investors and hedge funds own 51.59% of the company’s stock.

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.