Short Interest in Precipio, Inc. (NASDAQ:PRPO) Grows By 70.0%

Precipio, Inc. (NASDAQ:PRPO) was the target of a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 6,126 shares, a growth of 70.0% from the February 26th total of 3,604 shares. Based on an average trading volume of 21,188 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC increased its position in Precipio by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 16,388 shares of the biotechnology company’s stock worth $377,000 after buying an additional 789 shares during the period. Renaissance Technologies LLC grew its position in shares of Precipio by 10.7% during the fourth quarter. Renaissance Technologies LLC now owns 14,500 shares of the biotechnology company’s stock worth $333,000 after acquiring an additional 1,400 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of Precipio during the third quarter worth about $194,000. Evernest Financial Advisors LLC acquired a new stake in shares of Precipio in the 3rd quarter worth about $374,000. Finally, Topline Capital Management LLC acquired a new stake in shares of Precipio in the 3rd quarter worth about $1,158,000. 10.45% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently issued reports on PRPO. Weiss Ratings restated a “sell (d-)” rating on shares of Precipio in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Precipio from a “buy” rating to a “hold” rating in a report on Sunday, March 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Precipio currently has an average rating of “Sell”.

Precipio Stock Performance

PRPO stock traded down $0.57 during midday trading on Friday, reaching $25.97. The company had a trading volume of 22,444 shares, compared to its average volume of 24,580. The firm has a market capitalization of $45.45 million, a PE ratio of -31.67 and a beta of 1.22. The stock has a 50 day moving average price of $24.86 and a 200 day moving average price of $22.71. Precipio has a fifty-two week low of $3.90 and a fifty-two week high of $29.53. The company has a quick ratio of 1.10, a current ratio of 1.27 and a debt-to-equity ratio of 0.06.

Precipio Company Profile

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.