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

Precipio, Inc. (NASDAQ:PRPO)’s stock price crossed 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 trading hands.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Wall Street Zen lowered Precipio from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precipio in a report on Tuesday, April 21st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.

Precipio Price Performance

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

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

Institutional Trading of Precipio

Hedge funds and other institutional investors have recently made changes to their positions in the company. Susquehanna International Group LLP acquired a new stake in shares of Precipio during the third quarter worth about $194,000. Renaissance Technologies LLC increased 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 purchasing an additional 1,400 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Precipio by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 16,388 shares of the biotechnology company’s stock worth $377,000 after purchasing an additional 789 shares in the last quarter. Evernest Financial Advisors LLC acquired a new stake in shares of Precipio during the third quarter worth about $374,000. Finally, Topline Capital Management LLC acquired a new stake in shares of Precipio during the third quarter worth about $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.