Progenity Inc. [PROG] stock Downgrade by Wells Fargo analyst, price target now $5

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Progenity Inc. [NASDAQ: PROG] surged by $0.41 during the normal trading session on Thursday and reaching a high of $2.82 during the day while it closed the day at $2.65. The company report on May 14, 2021 that Progenity Provides Corporate Update and Reports First Quarter 2021 Financial Results.

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Reports revenues of $24.5 million in the first quarter of 2021, up 72% from prior quarter.

Announced pre-validation data for its Preecludia™ test showed strong performance consistent with verification study and demonstrated commercial laboratory systems readiness.

Progenity Inc. stock has also gained 12.77% of its value over the past 7 days. However, PROG stock has declined by -52.59% in the 3 months of the year. Over the past six months meanwhile, it has lost -37.05% and lost -50.09% year-on date.

The market cap for PROG stock reached $159.21 million, with 57.49 million shares outstanding and 41.10 million shares in the current float. Compared to the average trading volume of 456.01K shares, PROG reached a trading volume of 1977965 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Progenity Inc. [PROG]:

Wells Fargo have made an estimate for Progenity Inc. shares, keeping their opinion on the stock as Underweight, with their previous recommendation back on February 08, 2021. While these analysts kept the previous recommendation, BTIG Research raised their target price to Buy. The new note on the price target was released on October 23, 2020, representing the official price target for Progenity Inc. stock. Previously, the target price had yet another raise to $11, while Wells Fargo analysts kept a Overweight rating on PROG stock.

The Average True Range (ATR) for Progenity Inc. is set at 0.27, with the Price to Sales ratio for PROG stock in the period of the last 12 months amounting to 2.14.

PROG stock trade performance evaluation

Progenity Inc. [PROG] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 12.77. With this latest performance, PROG shares dropped by -11.37% in over the last four-week period, additionally sinking by -37.05% over the last 6 months.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for PROG stock in for the last two-week period is set at 42.56, with the RSI for the last a single of trading hit 49.53, and the three-weeks RSI is set at 40.08 for Progenity Inc. [PROG]. The present Moving Average for the last 50 days of trading for this stock 3.62, while it was recorded at 2.34 for the last single week of trading, and 5.90 for the last 200 days.

Progenity Inc. [PROG]: An insightful look at the core fundamentals

Operating Margin for any stock indicates how profitable investing would be, and Progenity Inc. [PROG] shares currently have an operating margin of -561.13 and a Gross Margin at -129.20. Progenity Inc.’s Net Margin is presently recorded at -472.30.

Return on Total Capital for PROG is now -1,020.81, given the latest momentum, and Return on Invested Capital for the company is -890.01. Additionally, PROG Total Debt to Total Capital is recorded at 293.42, with Total Debt to Total Assets ending up at 105.10.

Receivables Turnover for the company is 2.30 with a Total Asset Turnover recorded at a value of 0.32.Progenity Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.30.

Earnings per share (EPS) analysis for Progenity Inc. [PROG] stock

With the latest financial reports released by the company, Progenity Inc. posted -6.11/share EPS, while the average EPS was predicted by analysts to be reported at -0.83/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -636.10%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for PROG.

Progenity Inc. [PROG]: Insider Ownership positions

There are presently around $97 million, or 66.40% of PROG stock, in the hands of institutional investors. The top three institutional holders of PROG stocks are: ATHYRIUM CAPITAL MANAGEMENT, LP with ownership of 27,031,626, which is approximately 0% of the company’s market cap and around 26.30% of the total institutional ownership; NEUBERGER BERMAN GROUP LLC, holding 6,541,060 shares of the stock with an approximate value of $14.65 million in PROG stocks shares; and ARMISTICE CAPITAL, LLC, currently with $5.87 million in PROG stock with ownership of nearly New of the company’s market capitalization.

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Positions in Progenity Inc. stocks held by institutional investors increased at the end of May and at the time of the May reporting period, where 32 institutional holders increased their position in Progenity Inc. [NASDAQ:PROG] by around 6,331,954 shares. Additionally, 20 investors decreased positions by around 567,199 shares, while 7 investors held positions by with 36,302,423 shares. The mentioned changes placed institutional holdings at 43,201,576 shares, according to the latest SEC report filing. PROG stock had 11 new institutional investments in for a total of 4,583,156 shares, while 10 institutional investors sold positions of 381,251 shares during the same period.

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