Precipio (NASDAQ:PRPO) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Precipio, Inc. (NASDAQ:PRPO)’s stock price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $6.16 and traded as high as $7.49. Precipio shares last traded at $7.38, with a volume of 6,502 shares changing hands.

Precipio Price Performance

The firm has a market capitalization of $10.92 million, a PE ratio of -4.03 and a beta of 1.42. 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 company has a 50-day moving average price of $6.17 and a 200 day moving average price of $6.19.

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 fourth quarter, according to its most recent filing with the 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 as of its most recent filing with the SEC. 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.