Precipio (NASDAQ:PRPO) Stock Price Passes Above 200 Day Moving Average – Should You Sell?

Shares of Precipio, Inc. (NASDAQ:PRPO) crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $6.84 and traded as high as $11.80. Precipio shares last traded at $11.39, with a volume of 3,723 shares.

Precipio Trading Down 2.8%

The company’s 50 day moving average is $7.50 and its 200 day moving average is $6.84. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.60 and a current ratio of 0.73. The stock has a market capitalization of $17.22 million, a price-to-earnings ratio of -6.22 and a beta of 1.28.

Precipio (NASDAQ:PRPO) last released its earnings results on Wednesday, May 14th. The biotechnology company reported ($0.59) earnings per share for the quarter. Precipio had a negative return on equity of 34.01% and a negative net margin of 17.23%. The firm had revenue of $4.93 million for the quarter.

Insider Buying and Selling

In other Precipio news, Director Richard A. Sandberg purchased 4,251 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was purchased at an average price of $8.47 per share, with a total value of $36,005.97. Following the completion of the transaction, the director now directly owns 30,140 shares of the company’s stock, valued at approximately $255,285.80. This trade represents a 16.42% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders bought a total of 14,978 shares of company stock valued at $135,481 over the last ninety days. 16.90% of the stock is owned by company insiders.

Institutional Investors Weigh In On Precipio

A hedge fund recently bought a new stake in Precipio stock. Renaissance Technologies LLC purchased a new stake in shares of Precipio, Inc. (NASDAQ:PRPO) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 10,100 shares of the biotechnology company’s stock, valued at approximately $56,000. Renaissance Technologies LLC owned approximately 0.68% of Precipio at the end of the most recent reporting period. Institutional investors own 10.45% of the company’s stock.

About Precipio

Precipio, Inc, a healthcare solutions company, provides diagnostic products, reagents, and services in the United States. It provides diagnostic blood cancer testing services. The company offers IV-Cell, a proprietary cell culture media that enables simultaneous culturing of four hematopoietic cell lineages; and HemeScreen, a suite of robust genetic diagnostic panels.