Precipio (NASDAQ:PRPO) Stock Breaks Above Fifty Day Moving Average – What’s Next?

Precipio, Inc. (NASDAQ:PRPO) shares passed above its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $23.19 and traded as high as $23.90. Precipio shares last traded at $23.65, with a volume of 17,725 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Precipio in a research note on Thursday, October 15th. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Precipio Trading Down 6.3%

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 business’s fifty day moving average is $23.05 and its 200 day moving average is $24.77.

Precipio (NASDAQ:PRPO) last announced its earnings results on Friday, August 14th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping analysts’ consensus estimates of ($2.00) by $1.88. The firm had revenue of $7.02 million during the quarter, compared to analyst estimates of $1.68 million. Precipio had a negative net margin of 4.12% and a negative return on equity of 7.84%.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Precipio stock. Renaissance Technologies LLC increased its position in shares of Precipio, Inc. (NASDAQ:PRPO) by 33.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 19,300 shares of the biotechnology company’s stock after buying an additional 4,800 shares during the quarter. Renaissance Technologies LLC owned 1.08% of Precipio worth $482,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 10.45% of the company’s stock.

Precipio Company Profile

Precipio, Inc. (NASDAQ: PRPO) is a biotechnology and medical diagnostics company focused on improving the diagnosis of cancer and other complex diseases. The company combines specialized pathology expertise with laboratory testing and diagnostic technologies intended to help physicians identify disease accurately and support treatment decisions. Precipio provides clinical laboratory services in areas including hematopathology, cytogenetics and molecular diagnostics. Its work is particularly focused on blood cancers and other hematologic disorders, where accurate classification can be challenging.