ProKidney initiated with a Neutral at JPMorgan

JPMorgan initiated coverage of ProKidney with a Neutral rating and no price target. The Neutral rating balances rilparencel’s potential in type 2 diabetic stage 3b/4 chronic kidney disease, a high unmet need disease area, and the stock’s current valuation with “need for more de-risking data” for the product to increase Street focus and shift sentiment, the analyst tells investors in a research note.