Precipio (NASDAQ:PRPO) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Precipio, Inc. (NASDAQ:PRPO) shares passed below its 200-day moving average during trading on Wednesday . The stock has a 200-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.

Wall Street Analyst Weigh In

A number of analysts have recently commented on PRPO shares. Wall Street Zen cut Precipio from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Precipio in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Precipio Price Performance

The stock has a market cap of $42.15 million, a price-to-earnings ratio of -50.11 and a beta of 1.38. The company has a 50-day moving average of $27.38 and a 200-day moving average of $25.08. The company has a debt-to-equity ratio of 0.05, a quick ratio of 1.33 and a current ratio of 1.56.

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

Hedge Funds Weigh In On Precipio

Several institutional investors have recently added to or reduced their stakes in PRPO. Susquehanna International Group LLP purchased a new stake in Precipio in the 3rd quarter valued at approximately $194,000. Renaissance Technologies LLC boosted its holdings in Precipio by 10.7% in the 4th quarter. Renaissance Technologies LLC now owns 14,500 shares of the biotechnology company’s stock valued at $333,000 after purchasing an additional 1,400 shares in the last quarter. Evernest Financial Advisors LLC purchased a new stake in Precipio in the 3rd quarter valued at approximately $374,000. Geode Capital Management LLC boosted its holdings in Precipio by 5.1% in 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, Topline Capital Management LLC purchased a new stake in Precipio in the 3rd quarter valued at approximately $1,158,000. Institutional investors and hedge funds 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.