Precipio (NASDAQ:PRPO) Stock Price Crosses Below 200-Day Moving Average – Here’s What Happened

Shares of Precipio, Inc. (NASDAQ:PRPO) passed below its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $25.08 and traded as low as $23.44. Precipio shares last traded at $23.55, with a volume of 39,866 shares trading hands.

Analyst Upgrades and Downgrades

PRPO has been the topic of several recent research reports. Wall Street Zen cut Precipio from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precipio in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock presently has an average rating of “Sell”.

Precipio Stock Down 2.3%

The company’s fifty day simple moving average is $27.15 and its 200-day simple moving average is $25.08. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 1.33. The firm has a market capitalization of $40.81 million, a PE ratio of -48.51 and a beta of 1.38.

Precipio (NASDAQ:PRPO) last released its quarterly earnings results on Thursday, May 14th. The biotechnology company reported ($0.81) earnings per share (EPS) for the quarter. Precipio had a negative return on equity of 6.73% and a negative net margin of 3.57%.The firm had revenue of $6.71 million during the quarter.

Institutional Investors Weigh In On Precipio

A number of large investors have recently modified their holdings of the business. Topline Capital Management LLC purchased a new position in shares of Precipio in the 3rd quarter valued at approximately $1,158,000. Evernest Financial Advisors LLC purchased a new stake in Precipio during the 3rd quarter worth approximately $374,000. Renaissance Technologies LLC grew its position in Precipio by 33.1% during the 1st quarter. Renaissance Technologies LLC now owns 19,300 shares of the biotechnology company’s stock worth $482,000 after purchasing an additional 4,800 shares during the last quarter. Geode Capital Management LLC increased its stake in Precipio by 5.1% during the 4th quarter. Geode Capital Management LLC now owns 16,388 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 789 shares in the last quarter. Finally, Susquehanna International Group LLP acquired a new position in Precipio during the 3rd quarter valued at approximately $194,000. Hedge funds and other institutional investors own 10.45% of the company’s stock.

About Precipio

Precipio, Inc is a clinical-stage diagnostics and medical technology company focused on advancing the detection and management of hematologic diseases. The firm develops precision diagnostic solutions that integrate digital morphology, immunophenotyping, and molecular testing to improve the diagnosis of leukemia and related blood disorders. Precipio’s approach is designed to enhance the accuracy and speed of laboratory workflows, helping physicians tailor treatment strategies more effectively.

The company’s core offerings include an automated digital imaging and analysis platform that captures and classifies blood and bone marrow cell images at high throughput.