Precipio (NASDAQ:PRPO) Share Price Crosses Below 200-Day Moving Average – Here’s What Happened

Precipio, Inc. (NASDAQ:PRPO) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $25.23 and traded as low as $22.75. Precipio shares last traded at $23.00, with a volume of 39,318 shares.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on PRPO shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Precipio in a report on Tuesday, April 21st. Wall Street Zen cut Precipio from a “buy” rating to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Precipio Stock Down 3.3%

The company has a market cap of $40.36 million, a price-to-earnings ratio of -47.98 and a beta of 1.30. 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 business has a fifty day moving average of $26.60 and a two-hundred day moving average of $25.18.

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

Hedge Funds Weigh In On Precipio

A number of hedge funds have recently made changes to their positions in the company. Topline Capital Management LLC acquired a new position in shares of Precipio during the third quarter valued at approximately $1,158,000. Evernest Financial Advisors LLC acquired a new position in shares of Precipio during the third quarter valued at approximately $374,000. Renaissance Technologies LLC raised its holdings in shares of Precipio by 33.1% during the first quarter. Renaissance Technologies LLC now owns 19,300 shares of the biotechnology company’s stock valued at $482,000 after acquiring an additional 4,800 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 valued at $377,000 after acquiring an additional 789 shares during the last quarter. Finally, Susquehanna International Group LLP acquired a new position in shares of Precipio during the third quarter valued at approximately $194,000. Institutional investors and hedge funds 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.