Precipio (NASDAQ:PRPO) Share Price Crosses Below 200 Day Moving Average – What’s Next?

Precipio, Inc. (NASDAQ:PRPO) passed below its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $25.20 and traded as low as $20.47. Precipio shares last traded at $20.61, with a volume of 27,600 shares.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Precipio in a research report on Thursday, October 15th. One equities research analyst has rated the stock with a Sell rating. According to MarketBeat.com, Precipio currently has an average rating of “Sell”.

Precipio Trading Down 2.9%

The stock has a market cap of $35.82 million, a PE ratio of -31.27 and a beta of 1.30. The company’s 50-day moving average price is $25.36 and its 200 day moving average price is $25.17. The company has a debt-to-equity ratio of 0.06, a quick ratio of 1.56 and a current ratio of 1.77.

Precipio (NASDAQ:PRPO) last issued its quarterly earnings data on Friday, August 14th. The biotechnology company reported ($0.12) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $7.02 million during the quarter, compared to analyst estimates of $1.68 million.

Institutional Trading of Precipio

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

Precipio Company Profile

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.