Precipio (NASDAQ:PRPO) Share Price Crosses Above 50-Day Moving Average – What’s Next?

Shares of Precipio, Inc. (NASDAQ:PRPO) passed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $25.16 and traded as high as $26.21. Precipio shares last traded at $26.00, with a volume of 33,753 shares trading hands.

Analysts Set New Price Targets

Several research firms have issued reports on PRPO. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precipio in a research note on Tuesday, April 21st. Wall Street Zen lowered shares of Precipio from a “buy” rating to a “hold” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Precipio has a consensus rating of “Sell”.

Precipio Trading Up 2.9%

The stock has a market cap of $46.54 million, a PE ratio of -55.32 and a beta of 1.27. 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 firm has a fifty day simple moving average of $25.16 and a two-hundred day simple moving average of $25.10.

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

Hedge Funds Weigh In On Precipio

Institutional investors have recently made changes to their positions in the stock. Topline Capital Management LLC purchased a new stake in shares of Precipio during the 3rd quarter valued at $1,158,000. Susquehanna International Group LLP purchased a new position in Precipio in the third quarter worth $194,000. Renaissance Technologies LLC grew its position in Precipio by 33.1% in the first quarter. Renaissance Technologies LLC now owns 19,300 shares of the biotechnology company’s stock worth $482,000 after acquiring an additional 4,800 shares in the last quarter. Finally, Geode Capital Management LLC grew 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 acquiring an additional 789 shares in the last quarter. Institutional investors own 10.45% of the company’s stock.

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.