The stock price of ProKidney Corp (NASDAQ: PROK) has dropped by -10.77 compared to previous close of 2.46. Despite this, the company has seen a fall of -6.20% in its stock price over the last five trading days. globenewswire.com reported 2024-09-03 that WINSTON-SALEM, N.C., Sept. 03, 2024 (GLOBE NEWSWIRE) — ProKidney Corp. (Nasdaq: PROK) (“ProKidney” or the “Company”), a late clinical-stage biotech company focused on the development of a first-in-class cell therapy candidate for chronic kidney disease (CKD), today announced strategic updates to its Phase 3 program for rilparencel, an investigational treatment to potentially preserve kidney function in patients with type 2 diabetes and advanced CKD.
Is It Worth Investing in ProKidney Corp (NASDAQ: PROK) Right Now?
The 36-month beta value for PROK is also noteworthy at 1.31. There are mixed opinions on the stock, with 1 analysts rating it as a “buy,” 3 rating it as “overweight,” 3 rating it as “hold,” and 0 rating it as “sell.”
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The public float for PROK is 76.66M, and at present, short sellers hold a 13.17% of that float. The average trading volume of PROK on September 24, 2024 was 723.87K shares.
PROK’s Market Performance
PROK stock saw an increase of -6.20% in the past week, with a monthly gain of 0.69% and a quarterly increase of -4.98%. The volatility ratio for the week is 9.29%, and the volatility levels for the last 30 days are 7.42% for ProKidney Corp (PROK). The simple moving average for the past 20 days is -6.99% for PROK’s stock, with a 3.40% simple moving average for the past 200 days.
Analysts’ Opinion of PROK
Many brokerage firms have already submitted their reports for PROK stocks, with Guggenheim repeating the rating for PROK by listing it as a “Buy.” The predicted price for PROK in the upcoming period, according to Guggenheim is $6 based on the research report published on September 10, 2024 of the current year 2024.
Morgan Stanley, on the other hand, stated in their research note that they expect to see PROK reach a price target of $3. The rating they have provided for PROK stocks is “Equal-Weight” according to the report published on March 07th, 2024.
PROK Trading at -3.72% from the 50-Day Moving Average
After a stumble in the market that brought PROK to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -55.92% of loss for the given period.
Volatility was left at 7.42%, however, over the last 30 days, the volatility rate increased by 9.29%, as shares sank -8.16% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -6.60% lower at present.
During the last 5 trading sessions, PROK fell by -6.20%, which changed the moving average for the period of 200-days by +30.65% in comparison to the 20-day moving average, which settled at $2.35. In addition, ProKidney Corp saw 23.31% in overturn over a single year, with a tendency to cut further gains.
Insider Trading
Reports are indicating that there were more than several insider trading activities at PROK starting from Weber Darin J., who sale 16,412 shares at the price of $2.50 back on Sep 19 ’24. After this action, Weber Darin J. now owns 103,480 shares of ProKidney Corp, valued at $41,030 using the latest closing price.
DARIN J WEBER, the Officer of ProKidney Corp, proposed sale 16,412 shares at $2.39 during a trade that took place back on Sep 19 ’24, which means that DARIN J WEBER is holding shares at $39,225 based on the most recent closing price.
Stock Fundamentals for PROK
Current profitability levels for the company are sitting at:
- -30.58 for the present operating margin
- 0.18 for the gross margin
The net margin for ProKidney Corp stands at -13.06. The total capital return value is set at -0.29.
Based on ProKidney Corp (PROK), the company’s capital structure generated -0.01 points at debt to capital in total, while cash flow to debt ratio is standing at -18.3. The debt to equity ratio resting at -0.01. The interest coverage ratio of the stock is -22906.0.
Currently, EBITDA for the company is -148.35 million with net debt to EBITDA at 1.54. When we switch over and look at the enterprise to sales, we see a ratio of 95.24. The receivables turnover for the company is 1.64for trailing twelve months and the total asset turnover is 0.01. The liquidity ratio also appears to be rather interesting for investors as it stands at 21.87.
Conclusion
In summary, ProKidney Corp (PROK) has had a mixed performance as of late. Analysts have mixed opinions on the stock, with some viewing it as a “buy” and others as a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
