Precipio (NASDAQ:PRPO) saw a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 290,600 shares, a decrease of 8.7% from the July 31st total of 318,200 shares. Approximately 4.9% of the shares of the stock are sold short. Based on an average daily volume of 317,700 shares, the days-to-cover ratio is presently 0.9 days.
Separately, ValuEngine raised Precipio from a “hold” rating to a “buy” rating in a report on Thursday, August 1st.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley acquired a new position in Precipio in the 2nd quarter worth about $86,000. BlackRock Inc. acquired a new position in shares of Precipio during the second quarter valued at approximately $47,000. Finally, SeaCrest Wealth Management LLC acquired a new position in shares of Precipio during the second quarter valued at approximately $184,000. 5.03% of the stock is owned by institutional investors.
Precipio (NASDAQ:PRPO) last released its quarterly earnings results on Friday, August 9th. The biotechnology company reported ($1.05) earnings per share for the quarter. The business had revenue of $0.94 million during the quarter. Precipio had a negative return on equity of 119.23% and a negative net margin of 614.15%.
Precipio Company Profile
Precipio, Inc, a cancer diagnostics company, provides diagnostic products and services to the oncology market. It also develops a platform to eradicate the problem of misdiagnosis within academic institutions. In addition, the company delivers diagnostic information to physicians and their patients. It has collaborations with academic institutions specializing in cancer research, diagnostics, and treatment, as well as PerkinElmer.
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