Precipio Inc (NASDAQ: PRPO) has had a strong run in the market as of late, and for good reason. The company has released quite a bit of news, showing investors that it is following through with value creation.
I published a full report on PRPO at Alpha Stock News yesterday, if you would like to get into detail. Nonetheless, today, we’ll do a brief review of why investors are so excited. Here’s what’s going on.
Why Investors Are So Excited About PRPO Stock
Precipio is a diagnostics company with a lot to offer. Their proprietary technology allows them to produce quality results in hours, rather than weeks, making their offering a strong one for hospitals, laboratories and more.
Recently, PRPO has issued quite a bit of news. In my opinion, the biggest story has to do with the Methodist Hospital in Memphis deciding to adopt their HomeScreen kit for diagnostics testing.
This is great news for the company and the hospital. After all, the hospital will receive higher quality testing at a faster pace that’s more affordable than previous options. For PRPO, the news means that the company is stepping in the door at a high traffic hospital, opening the door to revenue.
Moreover, the hosptial industry is a competitive one. With Methodist Hospital being able to produce diagnostics results at a rate that is 7 to 10 times faster than other hospitals in the region, others will likely rush to get their hands on the technology, opening more doors to the company.
Moreover, the company also recently announced that it has chosen a manufacturing partner for its IV-Cell media. This is important as the company was recently chosen as a VA supplier for the United States DoD.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. When it comes to Precipio, recent news has been overwhelmingly positive, leading to a strong run in value for the stock. That run in value is continuing today.
As is just about always the case, our partners at Trade Ideas were the first to alert us to the gains. Currently (10:08), PRPO is trading at $0.33 per share after a gain of $0.013 per share or 4.16% thus far today.
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What We’ll Be Watching For Ahead
Moving forward, the CNA Finance team will continue to keep a close eye on PRPO. In particular, we’re interested in following the story surrounding the company’s continued work to expand its client base, manufacturing capabilities, and value for investors. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
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