PROKIDNEY CP (PROK) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #1 (Strong Buy).
Does ProKidney Corp. (PROK) have what it takes to be a top stock pick for momentum investors? Let's find out.
Shares of ProKidney jump 515% after its kidney cell therapy shows strong efficacy in a Phase II diabetes-related CKD study.
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ProKidney Corp. (NASDAQ: PROK) has seen significant volatility following encouraging Phase 2 clinical trial outcomes for its REGEN-007 study, which assesses rilparencel in patients suffering from chronic kidney disease (CKD) and diabetes. The study indicated considerable enhancements in kidney function:
The stock of the day on Tuesday was ProKidney Corp.'s, as it was both the biggest gainer and the most actively traded on major U.S. exchanges, after the biotechnology company's diabetes treatment produced positive results in a mid-stage trial.
PROKIDNEY CP (PROK) has become technically an oversold stock now, which implies exhaustion of the heavy selling pressure on it. This, combined with strong agreement among Wall Street analysts in revising earnings estimates higher, indicates a potential trend reversal for the stock in the near term.
Rilparencel is ProKidney's main candidate. It is intended as a therapy that stabilizes kidneys, making it potentially useful for CKD patients. We'll have Rilparencel's Phase 2 full data in 2025, as well as the potential confirmation about a āsurrogateā endpoint for its Phase 3 trials. Currently, Rilparencel's Phase 3 is planned to deliver full data by Q3 2027 if no surrogate endpoint is found that's suitable for the FDA.