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

Precipio, Inc. (NASDAQ:PRPO) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 12,800 shares, a growth of 19.6% from the February 28th total of 10,700 shares. Based on an average trading volume of 9,400 shares, the short-interest ratio is currently 1.4 days. Approximately 1.0% of the shares of the stock are short sold.

Precipio Price Performance

Shares of Precipio stock opened at $5.15 on Friday. The firm has a market cap of $7.63 million, a PE ratio of -2.81 and a beta of 1.37. The business has a 50-day moving average price of $7.03 and a 200 day moving average price of $6.47. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 0.02. Precipio has a twelve month low of $4.31 and a twelve month high of $10.74.

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

Institutional Trading of Precipio

An institutional investor recently bought a new position in Precipio stock. Renaissance Technologies LLC purchased a new position in Precipio, Inc. (NASDAQ:PRPO) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 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 reporting period. Hedge funds and other institutional investors own 10.45% of the company’s stock.

About Precipio

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.