Short Interest in Precipio, Inc. (NASDAQ:PRPO) Drops By 19.5%

by · The Cerbat Gem

Precipio, Inc. (NASDAQ:PRPO – Get Free Report) was the recipient of a large drop in short interest during the month of March. As of March 31st, there was short interest totalling 10,300 shares, a drop of 19.5% from the March 15th total of 12,800 shares. Currently, 0.8% of the company’s stock are sold short. Based on an average daily trading volume, of 10,100 shares, the short-interest ratio is currently 1.0 days.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Precipio stock. Renaissance Technologies LLC acquired a new stake in Precipio, Inc. (NASDAQ:PRPO – Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 10,100 shares of the biotechnology company’s stock, valued at approximately $56,000. Renaissance Technologies LLC owned about 0.68% of Precipio at the end of the most recent quarter. 10.45% of the stock is owned by institutional investors.

Precipio Stock Performance

Shares of NASDAQ PRPO traded down $0.64 during midday trading on Monday, reaching $5.24. The company’s stock had a trading volume of 3,710 shares, compared to its average volume of 8,410. The stock has a market capitalization of $7.88 million, a P/E ratio of -2.86 and a beta of 1.04. The company has a debt-to-equity ratio of 0.02, a current ratio of 0.73 and a quick ratio of 0.60. The firm has a 50 day moving average price of $6.71 and a 200-day moving average price of $6.37. Precipio has a 12-month low of $3.90 and a 12-month high of $10.74.

Precipio (NASDAQ:PRPO – Get Free Report) last announced its quarterly earnings data on Thursday, March 27th. The biotechnology company reported ($0.23) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.74 by ($0.97). The business had revenue of $5.45 million during the quarter, compared to the consensus estimate of $8.01 million. Precipio had a negative net margin of 17.23% and a negative return on equity of 34.01%.

About Precipio

(Get Free Report)

Precipio, Inc, a healthcare solutions company, provides diagnostic products, reagents, and services in the United States. It provides diagnostic blood cancer testing services. The company offers IV-Cell, a proprietary cell culture media that enables simultaneous culturing of four hematopoietic cell lineages; and HemeScreen, a suite of robust genetic diagnostic panels.

Read More