Precipio (NASDAQ:PRPO) Stock Breaks Below Two Hundred Day Moving Average – What’s Next?

Precipio, Inc. (NASDAQ:PRPO) shares passed below its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $25.53 and traded as low as $23.30. Precipio shares last traded at $23.45, with a volume of 18,163 shares trading hands.

Wall Street Analyst Weigh In

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

Precipio Price Performance

The stock has a market capitalization of $41.51 million, a PE ratio of -36.23 and a beta of 1.30. The company has a debt-to-equity ratio of 0.06, a current ratio of 1.77 and a quick ratio of 1.56. The firm’s 50 day simple moving average is $25.56 and its 200 day simple moving average is $25.51.

Precipio (NASDAQ:PRPO) last released its earnings results on Friday, August 14th. The biotechnology company reported ($0.12) EPS for the quarter, beating the consensus estimate of ($2.00) by $1.88. The company had revenue of $7.02 million for the quarter, compared to analyst estimates of $1.68 million. Precipio had a negative net margin of 4.47% and a negative return on equity of 8.49%.

Institutional Investors Weigh In On Precipio

An institutional investor recently bought a new position in Precipio stock. BlackRock Inc. purchased a new position in shares of Precipio, Inc. (NASDAQ:PRPO) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 34,655 shares of the biotechnology company’s stock, valued at approximately $858,000. BlackRock Inc. owned about 1.94% of Precipio at the end of the most recent reporting period. Institutional investors and hedge funds own 10.45% of the company’s stock.

About Precipio

Precipio, Inc is a biotechnology and diagnostic company focused on improving the detection and classification of cancer, particularly hematologic malignancies such as leukemia and lymphoma. The company combines laboratory testing, diagnostic products and specialized pathology expertise to support more accurate cancer diagnoses.

Precipio operates a clinical laboratory that provides hematopathology and molecular diagnostic services to physicians, hospitals and other healthcare organizations.