Precipio (NASDAQ:PRPO) Shares Cross Below 200-Day Moving Average – Here’s Why

Precipio, Inc. (NASDAQ:PRPO)’s stock price passed below its two hundred day moving average during trading on Wednesday. The stock has a two hundred day moving average of $25.36 and traded as low as $22.15. Precipio shares last traded at $22.25, with a volume of 42,465 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Precipio in a research note on Thursday. One research analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Precipio Trading Down 5.1%

The firm has a market capitalization of $38.27 million, a price-to-earnings ratio of -33.41 and a beta of 1.30. The company has a quick ratio of 1.56, a current ratio of 1.77 and a debt-to-equity ratio of 0.06. The business’s fifty day moving average is $25.59 and its 200 day moving average is $25.33.

Precipio (NASDAQ:PRPO) last posted its quarterly earnings data on Friday, August 14th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.00) by $1.88. Precipio had a negative return on equity of 8.49% and a negative net margin of 4.47%. The business had revenue of $7.02 million during the quarter, compared to the consensus estimate of $1.68 million.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Precipio stock. BlackRock Inc. purchased a new stake in Precipio, Inc. (NASDAQ:PRPO) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 34,655 shares of the biotechnology company’s stock, valued at approximately $858,000. BlackRock Inc. owned 1.94% 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 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.