Precipio (NASDAQ:PRPO) Shares Break Above Fifty Day Moving Average – Here’s Why

Precipio, Inc. (NASDAQ:PRPO) passed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $23.19 and traded as high as $23.90. Precipio shares last traded at $23.65, with a volume of 17,725 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Precipio in a research note on Thursday, October 15th. One analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the company has a consensus rating of “Sell”.

Precipio Trading Up 6.5%

The stock has a market cap of $42.33 million, a price-to-earnings ratio of -36.95 and a beta of 1.45. The firm’s 50 day moving average is $23.19 and its two-hundred day moving average is $24.78. The company has a quick ratio of 1.56, a current ratio of 1.77 and a debt-to-equity ratio of 0.06.

Precipio (NASDAQ:PRPO) last issued its earnings results on Friday, August 14th. The biotechnology company reported ($0.12) EPS for the quarter, beating analysts’ consensus estimates of ($2.00) by $1.88. The company had revenue of $7.02 million during the quarter, compared to the consensus estimate of $1.68 million. Precipio had a negative return on equity of 8.49% and a negative net margin of 4.47%.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Precipio stock. BlackRock Inc. acquired a new position in shares of Precipio, Inc. (NASDAQ:PRPO) in the second quarter, according to its most recent 13F filing with the SEC. 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 at the end of the most recent reporting period. 10.45% of the stock is owned by hedge funds and other institutional investors.

About Precipio

Precipio, Inc. (NASDAQ: PRPO) is a biotechnology and medical diagnostics company focused on improving the diagnosis of cancer and other complex diseases. The company combines specialized pathology expertise with laboratory testing and diagnostic technologies intended to help physicians identify disease accurately and support treatment decisions. Precipio provides clinical laboratory services in areas including hematopathology, cytogenetics and molecular diagnostics. Its work is particularly focused on blood cancers and other hematologic disorders, where accurate classification can be challenging.