Precipio (NASDAQ:PRPO) Releases Earnings Results, Beats Estimates By $1.88 EPS

Precipio (NASDAQ:PRPO) posted its quarterly earnings data on Friday. The biotechnology company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($2.00) by $1.88, Zacks reports. The business had revenue of $7.02 million during the quarter, compared to analyst estimates of $1.68 million. Precipio had a negative net margin of 3.57% and a negative return on equity of 6.73%.

Precipio Stock Up 1.2%

PRPO opened at $23.50 on Friday. Precipio has a 12 month low of $13.80 and a 12 month high of $33.63. The business has a 50-day moving average of $23.42 and a two-hundred day moving average of $25.02. The company has a debt-to-equity ratio of 0.05, a current ratio of 1.56 and a quick ratio of 1.33. The stock has a market capitalization of $41.99 million, a price-to-earnings ratio of -36.72 and a beta of 1.30.

Wall Street Analysts Forecast Growth

PRPO has been the subject of several recent analyst reports. Wall Street Zen cut shares of Precipio from a “buy” rating to a “hold” rating in a research note on Saturday, May 16th. Weiss Ratings reissued a “sell (d-)” rating on shares of Precipio in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Precipio presently has an average rating of “Sell”.

Institutional Investors Weigh In On Precipio

Several hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Precipio by 5.1% in the fourth quarter. Geode Capital Management LLC now owns 16,388 shares of the biotechnology company’s stock valued at $377,000 after purchasing an additional 789 shares during the period. Renaissance Technologies LLC increased its position in Precipio by 10.7% during the fourth quarter. Renaissance Technologies LLC now owns 14,500 shares of the biotechnology company’s stock worth $333,000 after purchasing an additional 1,400 shares during the last quarter. Finally, Susquehanna International Group LLP purchased a new position in Precipio during the third quarter worth approximately $194,000. 10.45% of the stock is owned by institutional investors and hedge funds.

About Precipio

Precipio, Inc is a clinical-stage diagnostics and medical technology company focused on advancing the detection and management of hematologic diseases. The firm develops precision diagnostic solutions that integrate digital morphology, immunophenotyping, and molecular testing to improve the diagnosis of leukemia and related blood disorders. Precipio’s approach is designed to enhance the accuracy and speed of laboratory workflows, helping physicians tailor treatment strategies more effectively.

The company’s core offerings include an automated digital imaging and analysis platform that captures and classifies blood and bone marrow cell images at high throughput.