Short Interest in Precipio, Inc. (NASDAQ:PRPO) Increases By 19.6%

Precipio, Inc. (NASDAQ:PRPO) was the target of a large growth in short interest in 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 daily volume of 9,400 shares, the days-to-cover ratio is currently 1.4 days. Currently, 1.0% of the company’s shares are sold short.

Institutional Investors Weigh In On Precipio

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

Precipio Trading Down 4.2 %

Shares of PRPO traded down $0.23 during trading hours on Thursday, reaching $5.33. 786 shares of the company traded hands, compared to its average volume of 7,859. Precipio has a 12 month low of $4.31 and a 12 month high of $10.74. The company has a quick ratio of 0.60, a current ratio of 0.73 and a debt-to-equity ratio of 0.02. The company’s fifty day moving average price is $7.05 and its two-hundred day moving average price is $6.48. The company has a market capitalization of $7.89 million, a price-to-earnings ratio of -2.91 and a beta of 1.37.

Precipio (NASDAQ:PRPO) last posted its quarterly earnings data 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). Precipio had a negative net margin of 17.23% and a negative return on equity of 34.01%. The firm had revenue of $5.45 million for the quarter, compared to the consensus estimate of $8.01 million.

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.