Precipio Inc (PRPO) is down -52.29% today after shooting up in price yesterday during trading. PRPO stock increased by over 400% yesterday after the company announcing its COVID-19 strategy. The company previously announced it entered into an agreement with ADS Biotec to distribute its COVID-19 serology antibody tests. Investors immediately reacted positively to the news as the traders continue to speculate on which companies will win the race for a COVID-19 cure and all firms that will benefit the most from the development. It seems now the stock is going through a correction as the stock became overvalued by traders overreacting to the news as the stock has cooled off.
PRPO stock has gained 14.78% over the last 12 months, and the average rating from Wall Street analysts is a Strong Buy. InvestorsObserver’s proprietary scoring system, gives PRPO stock a score of 67 out of a possible 100.
That score is influenced by a short-term technical score of 100. PRPO’s score also includes a long-term technical score of 100. The fundamental score for PRPO is 0. In addition to the average rating from Wall Street analysts, PRPO stock has a mean target price of 2. This means analysts expect the stock to decrease 40.12% over the next 12 months.
What’s Happening with PRPO Stock Today
Precipio Inc (PRPO) stock is trading at $3.34 as of 1:40 PM on Friday, Jul 31, a drop of -$3.66, or -52.29% from the previous closing price of $7.00. The stock has traded between $3.01 and $5.05 so far today. Volume today is more active than usual. So far 16,827,276 shares have traded compared to average volume of 4,799,254 shares.