Precipio (NASDAQ:PRPO) Shares Cross 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 Monday. The stock has a two hundred day moving average of $25.73 and traded as low as $23.26. Precipio shares last traded at $24.11, with a volume of 72,395 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Precipio in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

Precipio Stock Performance

The company has a current ratio of 1.77, a quick ratio of 1.56 and a debt-to-equity ratio of 0.06. The company has a market cap of $42.58 million, a PE ratio of -37.17 and a beta of 1.32. The firm’s 50-day simple moving average is $25.50 and its two-hundred day simple moving average is $25.70.

Precipio (NASDAQ:PRPO) last posted its quarterly earnings results on Friday, August 14th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $1.88. The business had revenue of $7.02 million during the quarter, compared to analysts’ expectations of $1.68 million. Precipio had a negative net margin of 4.47% and a negative return on equity of 8.49%.

Institutional Trading of Precipio

An institutional investor recently bought a new position in Precipio stock. BlackRock Inc. acquired a new stake in Precipio, Inc. (NASDAQ:PRPO) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 34,655 shares of the biotechnology company’s stock, valued at approximately $858,000. BlackRock Inc. owned 1.94% of Precipio as of its most recent filing with the Securities and Exchange Commission (SEC). 10.45% of the stock is owned by hedge funds and other institutional investors.

About Precipio

Precipio, Inc is a biotechnology and medical diagnostics company focused on improving the diagnosis of cancer and other complex diseases. The company combines laboratory services with proprietary diagnostic technologies designed to help physicians and laboratories identify disease more accurately and support treatment decisions.

Precipio’s offerings include hematopathology and oncology testing services, such as flow cytometry, cytogenetics, molecular diagnostics and pathology review. Its HemeScreen platform is designed to detect genetic abnormalities associated with hematologic malignancies, including leukemia and lymphoma, and is intended to provide laboratories with an efficient tool for analyzing patient samples.

Based in New Haven, Connecticut, Precipio serves hospitals, physicians, clinical laboratories and other healthcare organizations.