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

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

Institutional Investors Weigh In On Precipio

A hedge fund recently bought a new stake in Precipio stock. Renaissance Technologies LLC purchased a new stake in Precipio, Inc. (NASDAQ:PRPO) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 10,100 shares of the biotechnology company’s stock, valued at approximately $56,000. Renaissance Technologies LLC owned 0.68% of Precipio as of its most recent SEC filing. Institutional investors and hedge funds own 10.45% of the company’s stock.

Precipio Stock Down 1.6 %

NASDAQ:PRPO traded down $0.09 on Wednesday, hitting $5.56. The stock had a trading volume of 2,653 shares, compared to its average volume of 7,879. The stock has a market cap of $8.24 million, a P/E ratio of -3.04 and a beta of 1.37. The company has a debt-to-equity ratio of 0.02, a quick ratio of 0.60 and a current ratio of 0.73. The firm’s fifty day simple moving average is $7.07 and its two-hundred day simple moving average is $6.48. Precipio has a 1 year low of $4.31 and a 1 year high of $10.74.

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

Precipio Company Profile

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.