Precipio, Inc. (NASDAQ:PRPO) Sees Significant Increase in Short Interest

Precipio, Inc. (NASDAQ:PRPO) was the recipient of a large increase in short interest during the month of May. As of May 15th, there was short interest totaling 14,627 shares, an increase of 106.7% from the April 30th total of 7,078 shares. Approximately 1.0% of the shares of the company are sold short. Based on an average trading volume of 33,138 shares, the short-interest ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Wall Street Zen downgraded Precipio from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Precipio in a research report on Tuesday, April 21st. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Precipio has an average rating of “Sell”.

Hedge Funds Weigh In On Precipio

Several hedge funds have recently bought and sold shares of the company. Topline Capital Management LLC purchased a new position in Precipio in the 3rd quarter valued at approximately $1,158,000. Evernest Financial Advisors LLC purchased a new position in Precipio in the 3rd quarter valued at approximately $374,000. Renaissance Technologies LLC increased its stake in Precipio by 33.1% in the 1st quarter. Renaissance Technologies LLC now owns 19,300 shares of the biotechnology company’s stock valued at $482,000 after purchasing an additional 4,800 shares in the last quarter. Geode Capital Management LLC increased its stake in Precipio by 5.1% in the 4th quarter. Geode Capital Management LLC now owns 16,388 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 789 shares in the last quarter. Finally, Susquehanna International Group LLP purchased a new position in Precipio in the 3rd quarter valued at approximately $194,000. 10.45% of the stock is owned by hedge funds and other institutional investors.

Precipio Stock Performance

NASDAQ PRPO opened at $22.80 on Monday. 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’s 50 day moving average is $27.15 and its two-hundred day moving average is $25.12. Precipio has a 12-month low of $9.30 and a 12-month high of $33.63. The stock has a market capitalization of $40.81 million, a price-to-earnings ratio of -48.51 and a beta of 1.30.

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

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.